Firstly watch last 19 sessions trading range for the life and size correction

Technical Analysis,Research & Weekly 

Outlook(Oct 04 to Oct 08,2021)

Nifty-EOD Chart Analysis

(Averages,Stochastic & MACD)

Nifty-EOD Chart (01-Oct-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 17947.65 on 24-09-2021

2-Averages

A- 5-Day SMA is today at 17693 

B- 21-Day SMA is today at 17530 

3- Stochastic- %K(5) is at 21.27 & %D(3) is at 37.67

4- Stochastic- %K(5) line has intersected %D(3) line downward and both lines are moving towards Over sold zone.

5- In MACD- MACD line has intersected Average line downward and its both lines are moving downward in positive zone.

Conclusions from EOD chart analysis

(Averages,Stochastic & MACD)

As EOD Waves structure of Nifty was updated in previous week weekly Outlook and no material change in it since then therefore only Short Term Averages and Indicators analysis is being updated in this week Weekly Outlook. 

Last Friday closing was at 17532 which is below 5-Day SMA(17693) and testing 21-Day SMA(17530). It means that Short Term Trend has turned down and first signal of Intermediate Term Trend moving down will emerge after sustaining below 21-Day SMA therefore firstly sustaining it beyond should be watched in next week.

As in Stochastic %K(5) line has intersected %D(3) line downward and both lines are moving towards Over sold zone and have not turned Oversold therefore some more down moves may also be seen in next week.

As in MACD both lines are falling in positive zone after MACD line downward intersection of Average line therefore it is confirming downward trend formations and some more down moves possibilities in next week.

Nifty-Last 19 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Oct 01 & Oct 01,2021):-

Technical Patterns formation in last 19 Sessions intraday charts

1- Selling(Resistances) in last 19 Sessions are as follows:-

A- 17638-17685  

B- 17678-17742 

C- 17755-17781

D- 17822-17896

E- 17907-17943

2- Consolidation(Supports) in last 19 Sessions are as follows:-  

A- 17462-17486

B- 17360-17411

C- 17280-17305

3- Last 19 Sessions actual trading between 19255-17947 

Conclusions from 19 Sessions

intra day chart analysis 

Last 19 Sessions trading between 19255-17947 with above mentioned lower levels supports and higher levels resistances within it as well as last Friday closing was almost in the middle of this range. As these supports and resistances are almost equally strong therefore expected that Nifty will firstly traded within this last 19 Sessions trading range and will prepare for next decisive moves beyond this range.

Nifty-Intra Day Chart Analysis

(01-Oct-2021)

Nifty-Intra Day Chart (01-Oct-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17515-17550

2- Support between 17462-17486

3- Last 3 hours up moves with downward corrections 

4- Whole day actual trading between 17453-17557

Conclusions from intra day chart analysis 

Although firstly selling after gap down opening but lower levels support has also developed therefore up moves were seen in last 3 hours last Friday. As these up moves were with with downward corrections hence consolidation will be understood and resultant some up moves will be seen in the beginning of next week.

Conclusions

(After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is sideways between 19255-17947 for the last 19 Sessions.

3- Short Term Trend is down.

As in previous week long Weekly Black Candle was formed and last Friday closing was near the lower levels of Week therefore emergence of weakness beginning signals.

Although firstly some up moves are expected in the beginning of next week because 3 hours consolidation was seen last Friday after lower levels supports but MACD is showing downward trend formations and Stochastic is also suggesting some more down moves possibilities therefore finally correction continuation is expected within last 19 Sessions trading range(19255-17947) in next week.

As many times Bullish markets completes its corrections through Short Term corrections or sideways trading therefore firstly sustaining beyond last 19 sessions trading range(19255-17947) should be watched in the coming week/weeks for the life and size of previous week started correction amid some more down moves possibilities within this range in next week

 Correction continuation towards

 next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-10-2021)

Nifty-Intra Day Chart (30-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17678-17742

2- Selling between 17638-17685

3- Whole day actual trading between 17586-17742

Conclusions from intra day chart analysis 

As whole day good selling today therefore correction continuation will be seen below today lowest and towards following next supports:-

1- 17360-17411

2- 17280-17305

3- 17213-17270

 Firstly sideways market and sharp fall if fresh selling develop

Nifty-Intra Day Chart Analysis & 

Market Outlook(30-09-2021)

Nifty-Intra Day Chart (29-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Consolidation between 17609-17683(immediate supports)

2- Up moves

3- Selling between - 17755-17781(immediate resistances)

4- Whole day actual trading between 17609-17781

Conclusions from intra day chart analysis 

Although firstly 140 points slipping after weaker opening but lower levels more than 3 hours good consolidation developed therefore up moves were seen in Mid-session. As minor selling also at higher levels therefore down moves were seen in last half hour.

Last 5 sessions trading between 17576-17947 with following supports and resistances within this range therefore Nifty will firstly remain sideways within this range:-

Resistances:-

1- 17907-17943

2- 17822-17896

3- 17755-17781

Supports:-

1- 17609-17683

As resistances are much stronger than supports therefore expected that Nifty will not move above 17947 anf if fresh selling develop tomorrow then sharp fall may be seen towards yesterday updated 3 supports ranges.

Correction continuation expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-09-2021)

Nifty-Intra Day Chart (28-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17822-17883 

2- Down moves with upward corrections

3- Down moves in Bullish Falling Channel

4- Sharp recovery in last hour

5- Whole day actual trading between 17577-17912

Conclusions from intra day chart analysis 

Although positive opening but fresh selling developed after last 2 sessions selling therefore decisive down moves was seen. As lower levels some consolidation also therefore sharp recovery from lower levels in last hour.

some buying was seen above 17802 in 2 previous sessions but good selling above it today therefore expected that down moves will be seen towards today lowest(17577) and once sustaining below it will mean today started correction continuation towards following next supports:-

1- 17360-17411

2- 17280-17305

3- 17213-17270

Levels will confirm next 

more than 2% moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(28-09-2021)

Nifty-Intra Day Chart (27-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17907-17943

2- Down moves with upward corrections

3- Selling between 17877-17896

4- Down moves in Bullish Falling Channel

5- Whole day actual trading between 17802-17943

Conclusions from intra day chart analysis 

Following lines were told on 25-09-2021 in " Wave-5 Rally continuation towards its maximum target at 18793":-

1- some higher levels good intraday selling was seen therefore Doji Black Candle was formed last Friday

2- firstly sustaining beyond last Friday trading range(17819-17947) should be firstly watched in the beginning of next week

17819-17947 was told on 25-09-2021 for firstly watching in the beginning of this week and Nifty traded almost whole day within this range between 17802-17943 with higher levels selling and some supports also at lower levels also.

Expected that Nifty will again trade and prepare for next decisive moves within and near about 17802-17943 tomorrow also because both higher levels selling and lower levels buying has been seen in last 2 sessions and finally sustaining it beyond will confirm next more than 2% moves which should be firstly watched in the coming sessions.

 Wave-5 Rally continuation towards its maximum target at 18793

Technical Analysis,Research & Weekly 

Outlook(Sep 27 to Oct 01,2021)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (24-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020

3- Wave-1 gained 4283.20 points  

4- Corrective Wave-2 completion at 10790.20 on 24-09-2020

5- Impulsive Wave-3 completion at 15431.8 on 16-02-2021

6- Wave-3 gained 4641.60 points

7- Corrective Wave-4 completion at 14151.4 on 22-04-2021

8- Impulsive Wave-5 continuation with recent high and new life time top formation at 17947.65 on 24-09-2021

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-5 continuation in full force with recent high and new life time top formation at 17947.65 on 24-09-2021 and no indication of Wave-5 completion yet on EOD and intraday chartS except Doji Black Candle formation last Friday.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (24-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 17947.65 on 24-09-2021

2- Stochastic- %K(5) is at 76.00 & %D(3) is at 58.62

3- Stochastic- %K(5) line has intersected %D(3) line upward and both lines are moving towards Over bought zone.

4- Stochastic is showing negative divergence.

5- In MACD- MACD line has intersected Average line downward and its both lines are moving downward in positive zone.

6- MACD is showing negative divergence.

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic %K(5) line has intersected %D(3) line upward and both lines are moving towards Over bought zone therefore indications of some up moves but %K is just below Overbought zone and this indicator is showing negative divergence also hence Short Term Correction may begin after some up moves.

As in MACD both lines are falling in positive zone after MACD line downward intersection of Average line therefore MACD is indicating downward trend formations and its possibility increases also because this indicator is showing negative divergence as well.

 

Conclusions

(After Putting All Studies Together)

All the trends are up and Bullish rally continuation forcefully in the form of Impulsive Wave-5 and no indication of its completion yet on EOD Charts except Over bought Weekly indicators. 

As Short term indicators are showing signals of Short Term correction but after some more up moves and more selling patterns formations therefore let fresh selling firstly develop in next week then Short Term correction beginning will be considered accordingly.

As per above given Waves structure maximum target of Nifty is at 18793.00 and its calculations are as follows:-

As per Elliott Wave theory "Wave-3 should not be shorter than both Wave-1 and Wave-5. Now impulsive Wave-5 is on and it should not gain more points than Wave-3 has gained.

Impulsive Wave-1 gained=4283.20 points(11794.30-7511.10)

Impulsive Wave-3 gained=4641.60 points(15431.80-10790.20)

Impulsive Wave-5 has gained 3796.25 points till 24-09-2021(17947.65-14151.40)

As according to Elliott Wave theory Wave-5 can not gain more points than Wave-3 gained therefore on going impulsive Wave-5 will gain lesser points than 4641.60.

Impulsive Wave-5 started from 14151.4 on 22-04-2021 and it has to gain less than 4641.60 points therefore maximum target of on going impulsive Wave-5 is 18793.00(14151.40+4641.60)

As some higher levels good intraday selling was seen therefore Doji Black Candle was formed last Friday hence firstly sustaining beyond last Friday trading range(17819-17947) should be firstly watched in the beginning of next week for immediate rally towards 18793.00 after sustaining above 17947 or Rally after Short term correction after sustaining below 17819. Next supports below 17819 are as follows:-

1- 17360-17411

2- 17280-17305

3- 17213-17270 

  

We posted following topic telling maximum of Nifty at 18793.00 on 07-08-2021 also when previous closing of Nifty was at 16238.20 on 06-08-2021:-

"Impulsive Wave-5 rally towards its maximum target at 18793 after Short Term correction completion"

 Rally continuation with little 

deeper corrections possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(24-09-2021)

Nifty-Intra Day Chart (23-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17647-17843

Conclusions from intra day chart analysis 

As FOMC announcements led strong US markets rally yesterday and Dow Jones Futures was trading more than 100 points up today morning also therefore most Asian markets were trading with good gains hence strong opening of Indian markets today morning. 

Whole day today up moves were with downward corrections and today closing was at life time highest after new life time top formations and intraday selling patterns were not seen therefore rally will remain continued. As sentiment has turned heated after strong rally of today therefore little deeper corrections may also be seen.

 Firstly watch 17524-17610 

amid mixed cues

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-09-2021)

Nifty-Intra Day Chart (22-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Slipping after positive opening

2- Selling between 17571-17610

3- Whole day actual trading between 17524-17610

Conclusions from intra day chart analysis 

As good selling between 17571-17610 therefore down moves are expected below today lowest(17524)  but SGX Nifty is trading more than 110 points up after more then 500 points strong rally in Dow Jones hence firstly sustaining beyond today trading range(17524-17610) should be firstly watched tomorrow amid these mixed cues.  

 17213-17622 will confirm next Short Term trend

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-09-2021)

Nifty-Intra Day Chart (21-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections 

2- Up moves with downward corrections

3- Whole day actual trading between 17327-17578

Conclusions from intra day chart analysis 

Although firstly 70 points down moves with upward corrections but getting supports just above yesterday mentioned 1st supports range(17280-17305) and after that last 4 hours up moves with downward corrections and closing as well as today highest formations within yesterday selling range(17512-17622).

As Nifty has honoured both immediate supports and resistances therefore expected that Nifty will again trade between immediate supports and resistances(17213-17622) as well as prepare for next decisive moves beyond this range. Finally sustaining beyond/forceful break out of 17213-17622 will confirm next Short Term trend hence should be watched in the coming sessions. 

 Slipping towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(21-09-2021)

Nifty-Intra Day Chart (20-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17512-17622

2- Down moves till last minutes

3- Whole day actual trading between 17361-17622

Conclusions from intra day chart analysis 

Following lines were told on 18-09-2021 in "Short Term correction towards next supports amid Sideways market turning expectations":-

1- some down moves expectations in the beginning of next week. 

2- down moves will be seen below last Friday lowest(17538) in the beginning of next week.

3- Short Term correction expectations towards above mentioned supports in the beginning of next week.

As was told 100% same happened and Nifty 

closed 188 points down today.

As more than 4 hours good selling therefore down moves were seen till last minutes and more than 1% negative closing also but Nifty hovered around last Saturday posted 3rd support range(17370-17394) in last minutes.

Following supports are lying below today lowest:- 

1- 17280-17305

2- 17213-17270

As consolidation patterns were not seen and only selling developed therefore Nifty may slip towards above mentioned supports but finally sideways market is expected between 17280-17512 tomorrow.

 Short Term correction towards next supports amid Sideways market turning expectations

Technical Analysis,Research & Weekly Outlook

(Sep 20 to Sep 24,2021)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (17-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020

4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021

5- Corrective Wave-4 completion at 14151.4 on 22-04-2021

6- Impulsive Wave-5 continuation with recent high and new life time top formation at 17792.95 on 17-09-2021

Conclusions from EOD chart

analysis(Waves structure)

Strong Bullish rally continuation in the form of Impulsive Wave-5 with recent high and new life time top formation at 17792.95 on 17-09-2021 and no indication of its completion yet on EOD chart except only Black Candle formation last Friday.

Although last Friday negative closing was near the lower levels of the day after loosing more than 200 points from higher levels but let more selling develop on EOD charts then deeper correction will be considered despite some down moves expectations in the beginning of next week. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (17-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 17792.95 on 17-09-2021

2- Stochastic- %K(5) is at 83.84 & %D(3) is at 81.10

3- Stochastic- Both lines %K(5) and %D(3) are kising in Over bought zone.

4- Stochastic is showing negative divergence.

5- In MACD- Both lines are kissing in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic Both lines %K(5) and %D(3) are kissing in Over bought zone and it is showing negative divergence also therefore Stochastic is indicating Short Term correction possibilities in next week.

As in MACD both lines are kissing in positive zone and MACD line has started to fall therefore emergence of downward trend formation indications.

Nifty-Intra Day Chart Analysis

(17-Sep-2021)

Nifty-Intra Day Chart (17-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17739-17792

2- Selling between 17611-17659

3- Whole day actual trading between 17538-17792

Conclusions from intra day chart analysis 

Although firstly strong up moves after gap up opening but selling developed and slipping from higher levels in Mid session. As again follow up selling was seen therefore down moves till last hour and closing was near the lower levels of the day.

Whole day good selling and consolidation patterns were not seen last Friday therefore expected that down moves will be seen below last Friday lowest(17538) in the beginning of next week.

Conclusions

(After Putting All Studies Together)

All the trends are up and Bullish rally continuation in full force. As Short Term indicators are suggesting that Short Term correction is on cards and intraday charts of last Friday are showing selling patterns also therefore Short Term correction will be seen towards following supports in the beginning of of next week:-

1- 17528-17547

2- 17445-17463

3- 17370-17394

4- 17280-17305

5- 17213-17270 

Immediate Resistances of Nifty are as follows:-

1- 17739-17792

2- 17611-17659

Although Short Term correction is expected in the beginning of next week but deeper correction will be seen only after complete selling patterns formations on EOD and intraday charts and its confirmation will be after sustaining below/Forceful break down of above mentioned last support(17213). Let it happen then deeper correction will be considered otherwise it should also be kept in mind that usually Bullish rallies remains continued with Short Term and sideways correction and till then Nifty should be considered sideways between 17213-17792. 

More or less now Nifty will be considered sideways between 17213-17792 in next week amid  Short Term correction expectations towards above mentioned supports in the beginning of next week.

 परम आदरणीय नरेन्द्र मोदी जी को 

जन्मदिन की हार्दिक शुभकामनाएं

मोदी जी जैसा हिन्दू हजारों नहीं बल्कि लाखों साल बाद इस धरती पर जन्म लेता है। हम हिन्दू बहुत ही भाग्यशाली है कि हमारे जीवन काल में "मोदी जी जैसा हिन्दू ह्रदय सम्राट" इस धरती पर आया है और हमें उनके साक्षात् दर्शन करने का सौभाग्य प्राप्त हुआ है । 

समस्त राष्ट्र भक्त हिन्दुस्थानियों और सच्चे हिन्दुओं की परमपिता परमेश्वर से प्रार्थना है कि जिस तरह से 15-08-2021 को भारत ने मोदी जी के नेतृत्व में 75 वां  स्वतंत्रता दिवस मनाया था । बिलकुल उसी तरह से 15-08-2047 में भी भारत मोदी जी के नेतृत्व में ही 101 वां स्वतंत्रता दिवस मनाये। 

अर्थात 

भारतवर्ष मोदी जी के नेतृत्व में ही स्वतंत्रता के 100 वर्ष पूर्ण होने का उत्सव मनाये और तब तक मोदी जी प्रधान मन्त्री के पद पर ही बने रहें और "हमारे भारतवर्ष को विश्व गुरु" बना कर विश्व के शिखर पर पहुंचाएं।

 Rally continuation after Very Short 

Term/intrday correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(17-09-2021)

Nifty-Intra Day Chart (16-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17511-17644

Conclusions from intra day chart analysis 

As whole day up moves with downward corrections and intraday selling patterns were not seen as well as closing at new life highest therefore on going rally continuation expectations but Short Term indicators are Overbought and sentiment have turned heated also therefore Very Short Term/intrday correction may be firstly seen.

 Rally continuation expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-09-2021)

Nifty-Intra Day Chart (15-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17387-17532

Conclusions from intra day chart analysis 

As whole day up moves with downward corrections and intraday selling patterns were not seen as well as closing at new life highest after last 7 sessions trading range forcefully break out therefore on going rally continuation is expected in the coming sessions also.

 Levels will confirm next one sided moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(15-09-2021)

Nifty-Intra Day Chart (14-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17415-17438

2- Sharp fall

3- Selling between 17391-17405

4- Whole day actual trading between 17367-17438

Conclusions from intra day chart analysis 

Following lines were told on 10-09-2021 in "Levels will confirm the life and size of Short Term expected correction":-

Firstly sustaining beyond/forceful break out of last 5 Sessions trading range(17213-17436) should be watched in next week for the life and size of Short Term expected correction.

1- Selling are as follows:- 

A- 17339-17379 

B- 17394-17436 

2- Supports are as follows:-

A- 17213-17270 

Nify respected above given supports and resistances in following manner in last 2 sessions:-

1- Yesterday(13-09-2021) Lowest was at 17269.20(0.80 Point below 17270)

2- Today(14-09-2021) highest is at 17438.55(02.55 Points above 17436)

Nifty got good supports between 17270-17312 yesterday and fresh selling was seen within previous resistances between 17415-17438 today. As both higher levels selling and lower levels consolidation between 17270-17438 in last 2 sessions therefore Nifty will have to trade and prepare for next decisive moves within this range in the coming sessions. 

Let Nifty to trade and prepare for next one sided decisive moves then will be updated according to intraday patterns formations and finally its confirmations will be sustaining beyond last 7 sessions trading range(17213-17438) which should be watched in the coming sessions.

 As not feeling well therefore Stock Market Outlook of today(14-09-2021) is not being updated.

 Levels will confirm the life and size of Short Term expected correction

Technical Analysis,Research & Weekly 

Outlook(Sep 13 to Sep 17,2021)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (09-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 17436.50 on 07-09-2021

2- Stochastic- %K(5) is at 76.16 & %D(3) is at 82.71

3- Stochastic- %K(5) line has intersected %D(3) line downward and both lines are falling in Over bought zone.

4- Stochastic is showing negative divergence.

4- In MACD- MACD line has intersected Average line upward.

5- In MACD- Both lines are rising in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic %K(5) line has intersected %D(3) line downward and both lines are falling in Over bought zone as well as it is showing negative divergence therefore Stochastic is suggesting that Short Term correction is on cards.

As in MACD both lines are rising in positive zone after MACD line upward intersection of Average line therefore it is showing that up trend is still intact and suggesting for on going rally continuation in next week.

Nifty-Last 5 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Sep 03 to Sep 09,2021):-

Technical Patterns formation in last 5 Sessions intraday charts

1- Selling(Resistances) in last 5 sessions are as follows:- 

A- 17339-17379 

B- 17394-17436 

2- Consolidation(Supports) in last 5 sessions are as follows:-

A- 17213-17270 

3- 5 Sessions actual trading between 17213-17436 

Conclusions from 5 Sessions

intra day chart analysis 

Last 5 sessions trading just near and below life time highest with above mentioned immediate supports and resistances which are equally strong therefore firstly Nifty will have to trade and prepare for next decisive moves beyond this range and that will be done in next week. Let Nifty do it then will be decided according to intraday charts patterns formations and finally its confirmation will be sustaining beyond/forceful break out of last 5 Sessions trading range(17213-17436).   

Nifty-Intra Day Chart

Analysis(09-Sep-2021)

Nifty-Intra Day Chart (09-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Lower levels supports

2- Selling between 17341-17368

3- Selling between 17339-17353

4- Down moves in Bullish Falling Channel

5- Sharp up

6- Selling between 17364-17379

7- Whole day actual trading between 17303-17379

Conclusions from intra day chart analysis 

Although last Thursday closing was near the top of the day but lower levels only supports and consolidation was not seen and only 15 minutes consolidation developed through  Down moves in Bullish Falling Channel after 02:30 PM.

As higher levels good intraday selling patterns formations therefore if fresh selling develops in next week also then decisive down moves will be seen below day's lowest(17303).

Conclusions

(After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is sideways between 17213-17436 for the last 5 sessions.

Most Bullish rally continuation and no indication of its completion on EOD and intraday charts yet but emergence of Short Term correction indication after:- 

1- Last 5 sessions sideways between 17213-17436.

2- Intraday selling patterns formation in last 4 sessions.

3- Stochastic indicator has started to generate Short Term correction signals.

As MACD indicator showing some more up moves possibilities and in Bull markets correction is completed within sideways trading also therefore deeper correction will be seen only after sustaining below/forceful break down of last 5 Sessions trading range(17213-17436) and if does not happen then Short Term correction will be completed within or near about 17213-17436.   

Firstly sustaining beyond/forceful break out of last 5 Sessions trading range(17213-17436) should be watched in next week for the life and size of Short Term expected correction.

Levels will confirm sharp fall 

after follow up selling

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-09-2021)

Nifty-Intra Day Chart (08-Sep-2021):-

Technical Patterns formation in today intraday charts

1- First 3 hours selling between 17350-17373

2- Sharp fall in Mid-session

3- Slow up moves in last hours

4- Whole day actual trading between 17255-17383

Conclusions from intra day chart analysis 

As first 3 hours selling therefore sharp fall was seen in Mid-session but continuous up moves developed after 01:00 PM. Although today closing was near the higher levels of the day but last hours up moves were slow and today closing(19353.50) was within first 3 hours selling range therefore if follow up selling develops tomorrow then sharp fall will be seen and its first strong signal will be sustaining below today selling range(17350-17373)

 Firstly watch today trading range for next Short Term trend confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-09-2021)

Nifty-Intra Day Chart (07-Sep-2021):-

Technical Patterns formation in today intraday charts

1- 114 Points fall in first hour

2- 149 Points recovery in Mid-session

3- 90 Points down in last 3 hours

4- Whole day actual trading between 17287-17436

Conclusions from intra day chart analysis 

As intraday charts have shown some selling patterns yesterday therefore 114 points fall was seen in first hour and Nifty traded 90 points negative also but after that 149 points recovered in Mid-session. 

Nifty could not sustain at higher levels and slipped 90 points in last 3 hours. As only intraday volatility was seen today and any particular big technical pattern could not develop as well as Nifty traded above and below yesterday highs and lows therefore next Short Term trend will get confirmation through sustaining beyond or forceful break out/down of today trading range(17287-17436) which should be firstly watched in the coming sessions.

 Today lowest will confirm 

Short Term correction 

Nifty-Intra Day Chart Analysis & 

Market Outlook(07-09-2021)

Nifty-Intra Day Chart (06-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Whole day trading with Mixed Patterns formation between 17346-17429

2- Whole day actual trading between 17346-17429

Conclusions from intra day chart analysis 

Although whole day positive zone trading after gap up opening and Nifty closed also 54 points positive also but clear consolidation patterns were not seen and intraday selling patterns have also developed today. 

As Short term indicators are showing negative divergence in Over bought zone and today intraday charts have shown some selling patterns also therefore if follow up selling develops in the coming 1/2 sessions then Short Term correction(which may be deeper also) will be seen and its confirmation will be sustaining below or forceful break down of today lowest(17346). 

Bullish rally continuation & correction consideration only after complete selling patterns formations

Technical Analysis,Research & Weekly Outlook

(Sep 06 to Sep 09,2021)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (03-Sep-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 17340.10 on 03-09-2021

2- Stochastic- %K(5) is at 90.94 & %D(3) is at 90.46

3- Stochastic- Both lines have turned flat in Over bought zone.

4- In MACD- MACD line has intersected Average line upward.

5- In MACD- Both lines are rising in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic both lines have turned flat in Over bought zone therefore emergence of Short Term correction signals.

As in MACD both lines are rising in positive zone after MACD line upward intersection of Average line therefore it is showing that upward trend is still intact and on going rally continuation will be seen in the beginning of next week.

Nifty-Intra Day Chart Analysis

(03-Sep-2021)

Nifty-Intra Day Chart (03-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Up moves with downward corrections

3- Whole day actual trading between 17213-17340

Conclusions from intra day chart analysis 

As whole day intraday consolidation through Down moves in Bullish Falling Channel and after that Up moves with downward corrections as well as clear selling patterns were not seen therefore on going rally will remain continued in the beginning of next week.

Conclusions

(After Putting All Studies Together)

All the trends are up,strong Bullish rally continuation and no indication of its completion on EOD and intraday charts yet therefore rally will remain continued in the beginning of next week.

MACD indicator is showing up trend therefore indications of rally continuation but in Stochastic indicator emergence of Short Term correction signals which will be seen only after complete selling patterns formations on intraday and EOD charts.

Rally will remain continued in the beginning of next week because last friday closing was at life time highest after new life time top formation at 17340.10 and clear intraday selling patterns were also not seen. 

Let complete selling patterns develop on EOD and intraday charts then Short/Intermediate Term correction will be considered according to the size and period of selling patterns formations otherwise Bullish rally will remain continued with intraday or 1/2 sessions corrections.