Firstly sustaining beyond 200-Day SMA 

& finally 23263.20 will confirm 

length of on going correction

Technical Analysis,Research & Weekly 

Outlook(Dec 23 to Dec 27,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (20-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.

5- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.

6- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.  

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

6- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and Wave-A of Wave-(iv) of Wave-3 beginning.

9- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.

10- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24792.30 on 13-12-2024.

11- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 23537.30 on 20-12-2024

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started from 15183.40 on 17-06-2022 after corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-1 completed at 18887.60 on 01-12-2022 and from this level corrective Wave-2 begun which completed at 16828.30 on 20-03-2023 and impulsive Wave-3 started from this level.  

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 started which completed at 19333.60 on 04-10-2023 and Wave-B begun from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level which completed . 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-A of Wave-(iv)of Wave-3 started which completed at 23263.20 on 21-11-2024. Corrective Wave-B of Wave-(iv) of Wave-3 begun from this levels which completed at 24792.30 on 13-12-2024 and from this levels corrective Wave-C of Wave-(iv) of Wave-3 started which is now in continuation with recent bottom formations at 23537.30 on 20-12-2024 and no indication of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (20-Dec-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 06.83 & %D(3)- 19.45.

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

4- MACD(26,12)- 139.45 & EXP(9)- 350.12 & Divergence- -210.67

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling in Over sold zone therefore it will be understood that this indicator is now completely ovedrsold but has not genetared any upward moves beginning signal. Let its both lines to move above oversold zone after upward intersection then Short Term upward moves will be seen.

2- As in MACD its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that MACD indicator has shown Downward Trend formation signals and resultant on going downward moves continuation will be expected.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (20-Dec-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24149   

2- 21-Day SMA is today at 24341 

3- 55-Day SMA is today at 24388

4- 100-Day SMA is today at 24687 

5- 200-Day SMA is today at 23834

 

Conclusions from EOD chart analysis

(Averages)

Finally Nifty had moved down sharply in all the 5 sessions of previous week after 8 sessions hovering around Intermediate Term Trend decider 55-Day SMA and facing resistance at this crucial level. Short and Intermediate Term Trends have turned down in last week 1100 points sharp fall and now Long Term Trend is also at stake because Nifty moved down 296 points sharply below its decider 200-Day SMA(today at 23834) as well as last Friday closing was 246 points below it also. As now it is confirm that Long Term Trend is at stake and firstly sustaining beyond its decider 200-Day SMA should be watched in the coming week/weeks for its direction confirmations and resultant that side bigger moves beginning confirmations accordingly.

Nifty-Intra Day Chart Analysis

(20-Dec-2024)

Nifty-Intra Day Chart (20-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 23892-24065

2- Down moves in Bullish Falling Channels in the last more than 3 hours

3- Whole day actual trading between 23538-24065

Conclusions from intra day chart analysis 

Although firstly upward moves after positive opening last Friday but selling developed which remained continued more than 3 hours therefore down moves started which remained continued till last half hour. As last more than 3 hours down moves were in Bullish Falling Channels which is a consolidation pattern also therefore firstly upward moves are expected towards 23892 in the beginning of next week.

Conclusions (After putting all studies together)

1- Long Term Trend is at stake.

2- Intermediate Term trend is down.

3- Short Term Trend is down.

On going Waves structure of Nifty which begun from 15183.40 on 17-06-2022 through its impulsive Wave-1 beginning which is in on and now its corrective Wave-C of Wave-(iv) of Wave-3 is in continuation with recent bottom formations at 23537.30 on 20-12-2024 and no indication of its completion yet on EOD and intraday charts.

As Short Term indicator Stochastic is completely Over sold therefore Short Term Upward moves are expected in the beginning of next week which may be limited also because another Short Term indicator MACD is showing Downward Trend formation and finally on going downward moves continuation possibility also.

Nifty could not sustain above Intermediate Term Trend decider 55-Day SMA and fallen sharply as well as closed 246 points below Long Term Trend 200-Day SMA(today at 23834)  last Friday therefore now Long Term Trend is at stake and firstly sustaining beyond its decider 200-Day SMA(today at 23834) should be watched for its finally formation confirmations. Corrective Wave-A of Wave-(iv) of Wave-3 bottom is at 23263.20 and once slipping below it will mean deeper correction beginning confirmations hence if Nifty sustaions below 200-Day SMA then it should be firstly watched.

As lower levels consolidation patterns formations last Friday therefore firstly upward moves are expected towards following next resistances which should be watched one by one for next decisive moves beginning confirmations:-

1- 23892-24065

2- 24066-24149(Gap resistance)

3- 24204-24266

4- 24414-24479

5- 24568-24624 

6- 24725-24790

Next supports below last Friday closing are as follows which should be watched one by one for the life and length of on going correction:-

1- 23298-23337

2- 23161-23206

3- 22961-23096

4- 22760-22871

5- 22291-22395

6- 21884-22191

7- 21502-21582

8- 21417-21500

As firstly sustaining beyond 200-Day SMA(today at 23834) & finally bottom of corrective Wave-A of Wave-(iv) of Wave-3(23263.20) will confirm life and length of on going correction therefore these 2 crucial levels should be watched in the coming week/weeks for next Trend formations and bigger moves beginning confirmations.

Sustaining beyond 23220-24004 

will confirm next intraday

 decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(20-12-2024)

Nifty-Intra Day Chart Analysis(19-Dec-2024)

Technical Patterns formation in today intraday charts

1- 134 Points upward moves after much weaker opening.

2- More than 5 hours Sideways trading between 23220-24004

3- Whole day actual trading between 23871-24004

Conclusions from intra day chart analysis 

As US markets crashed due to FOMC announcements yesterday therefore all the Asian markets were down today morning and resultant sentiment turned depressed hence Nifty opened 321 points down today. Although such weakness but firstly Nifty moved up 134 points in first hour and whole day traded sideways between 23220-24004. As technical positions reverses due to such depresed Global news therefore firstly it will be safer to watch sustaining beyond today sideways trading range(23220-24004) for next intraday decisive moves beginning confirmations.

Sustaining beyond 24150-24266 will 

confirm next decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(19-12-2024)

Nifty-Intra Day Chart (18-Dec-2024):-

Technical Patterns formation in today intraday charts

1- 96 Points upward moves in first half hour.

2- Sharp down.

3- More than 5 hours sideways trading between 24150-24266.

4- Whole day actual trading between 24150-24394.

Conclusions from intra day chart analysis 

As lower levels consolidation was seen yesterday therefore firstly 96 Points upward moves developed in first half hour but could not sustain at higher levels because higher levels selling was also seen yesterday. Although firstly volatility but after that quiet sideways trading was seen between 24150-24266 today and it means that Nifty is preparing for one sided decisive moves. As one sided intraday trading patterns were not seen within last 5 hours sideways trading between 24150-24266 therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about this range and finally sustaining beyond this range will confirm it hence it should be watched in the coming sessions for next decisive moves beginning confirmations. 

Pull Back Rally possibility towards 24450

Nifty-Intra Day Chart Analysis &

Market Outlook(18-12-2024)

Nifty-Intra Day Chart (17-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24568-24624 

2- Down moves with upward corrections

3- Down moves in Bullish Falling Channels

4- Whole day actual trading between 24304-24624

Conclusions from intra day chart analysis 

As firstly selling in first hour and after that follow up selling also through  Down moves with upward corrections therefore down moves remain continued till last hour but last 2 hours Down moves were in Bullish Falling Channels and Very Short Term indicators have turned Over sold also therefore Pull Back Rally possibility towards 34450 can not be ruled out. If fresh consolidation develops near about today lowest then expected Pull Back Rally will be seen tomorrow.

Firstly sustaining beyond 24602-24696 will confirm next intraday decisive moves beginning

Nifty-Intra Day Chart Analysis & Market

Outlook(17-12-2024)

Nifty-Intra Day Chart (16-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections after negative opening

2- Up moves with downward corrections in the last more than 3 hours between 24602-24696

3- Whole day actual trading between 24602-24781

Conclusions from intra day chart analysis 

Although firstly "intraday selling patterns" of "Down moves with upward corrections" were seen in first 2 hours after negative opening but "intraday consolidation patterns" of "Up moves with downward corrections" were also seen at lower levels in the last more than 3 hours therefore whole day today trading will me understood with Mixed Patterns formation between 24602-24781. As one sided intraday trading patterns were not seen whole day today therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about today trading range as well as finally sustaining it beyond will confirm next one sided decisive moves beginning hence it should be also watched in the coming sessions for its beginning confirmations.

As last more than 3 hours trading was between 24602-24696 and firstly sustaining beyond this range will generate first strong signal of next intraday decisive moves beginning it should also be firstly watched for its confirmations.

 Finally sustaining beyond 55-Day SMA will confirm next Trend & bigger moves beginning

Technical Analysis,Research & 

Weekly Outlook(Dec 16 to Dec 20,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (13-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-2 completion at 16828.30 on 20-03-2023 and impulsive Wave-3 beginning.

2- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.

3- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.

4- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.  

5- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

6- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 beginning.

9- Corrective Wave-(iV) of Wave-3 recent bottom formations at 23263.20 on 21-11-2024.

10- Short Term upward moves continuation with recent top formations at 24857.8 on 05-12-2024.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-3 started from 16828.30 on 20-03-2023 after corrective Wave-2 completion at this levels. Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B started from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 started which is now in continuation with its recent bottom formations at 23263.20 on 21-11-2024 and no confirmation of its completion yet on EOD charts. Short Term upward moves begun from the lower levels(23263.20) of on going correction which are in continuation with recent top formations at 24857.8 on 05-12-2024 and no confirmation of its completion yet also on EOD and intraday charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (13-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- 1- Stochastic- Its both lines %K(5) and %D(3) are kissing below Over bought zone.

2- Stochastic:- %K(5)- 58.59 & %D(3)- 53.92.

3- In MACD- MACD line has intersected Average line upward and its both lines are risingin positive zone.

4- MACD(26,12)- 445.03 & EXP(9)- 278.55 & Divergence- 166.48

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing below Over bought zone therefore it will be understood that now this indicator is not generating any side decisive moves begiinng clear signals. Let this indicator to generate any side decisive moves beginning clear signals through one sided intersection then that side decisive moves will be seen. 

2- As in MACD its MACD line has intersected Average line upward and its both lines are rising in positive zone therefore it will be understood that MACD indicator has shown stronger signals of Upward Trend formations and resultant on going upward moves continuation will be expected.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (13-Dec-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24637  

2- 21-Day SMA is today at 24182

3- 55-Day SMA is today at 24556

4- 100-Day SMA is today at 24709

5- 200-Day SMA is today at 23782

Conclusions from EOD chart analysis

(Averages)

The rally which started after getting supports at Long Term Trend decider 200-Day SMA at 23263.20 on 21-11-2024 is now in continuation and now Nifty is hovering around Intermediate Term Trend decider 55-Day SMA for the last 7 sessions. Short and Long Term Trends are already up and finally sustaining beyond 55-Day SMA will confirm next Intermediate Term Trend as well as one sided decisive bigger moves beginning.

Nifty-Intra Day Chart Analysis

(13-Dec-2024)

Nifty-Intra Day Chart (13-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Firstly 367 down in first 2 hours. 

2- 611 Points recovery from lower levels

3- Whole day actual trading between 24181-24792

Conclusions from intra day chart analysis 

Although firstly Nifty traded 367 down in first 2 hours but after that decisive upward moves started and Nifty recovered 611 points from intraday lower levels as well as closed 219 points up which was once 367 points down. As Technical positions reverses during such high intraday volatility therefore next trend will be decided through sustaining beyond next supports and resistances. 

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is up.

Impulsive Wave-3 which begun from 16828.30 completed with new life time top formations at 26277.30 and corrective Wave-(iV) of Wave-3 started which is now in continuation after recent bottom formations at 23263.20 and no confirmation of its completion yet on EOD charts. Short Term upward moves begun which are in continuation with recent top formations at 24857.8 on 05-12-2024 and no confirmation of its completion also on EOD and intraday charts.

Although Short Term indicator Stochastic is not showing clear signals of any side decisive moves beginning but MACD is confirming Short Term upward Trend formations and resultant generation of on going Short Term upward moves continuation clear signals. As huge intraday volatility was seen last Friday and Technical positions reverses also during such high intraday volatility therefore next Trend will be decided through levels. Nifty is hovering around Intermediate Term trend decider 55-Day SMA(today at 24556) for the last 7 sessions therefore firstly sustaining it beyond should be watched in the coming weeek/weeks for next trend formations and bigger moves beginning in following manner:-

1- Sustaining above 55-Day SMA will mean Strong rally beginning towards and/or above life time top because that will confirm on going Intermediate Term correction completion at 23263.20 on 21-11-2024.

2- Sustaining below 55-Day SMA will mean that Intermediate Term Trend is down and resultant downward moves will be seen toward and/or below the bottom of on going Intermediate Term correction at 23263.20.   

Resistances above 55-Day SMA(today at 24556) are as follows:-

1- 24627-24684

2- 24787-24886

3- 25122-25157

4- 25198-25234 

5- 25421-25468

6- 25592-25626

7- 25640-25739

8- 25787-25828(Gap Resistance)

9- 25886-25912

10- 25969-25606

11- 26135-26151(Gap Resistance)

Supports below 55-Day SMA(today at 24556) are as follows:-

1- 24388-24439 

2- 24143-24222

3- 24079-24117

4- 23816-23853

5- 23654-23712

6- 23447-23545

7- 23298-23337

8- 23161-23206

9- 22961-23096

10- 22760-22871

11- 22291-22395

12- 21884-22191

13- 21502-21582

14- 21417-21500

24511-24574 is most Crucial

 and next Trend decider

Nifty-Intra Day Chart Analysis &

Market Outlook(13-12-2024)

Nifty-Intra Day Chart (12-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24634-24675

2- Down moves with upward corrections

3- Sideways trading in last 2 hours between 24528-24574

4- Whole day actual trading between 24528-24675

Conclusions from intra day chart analysis 

As more than 5 hours trading was with Mixed Patterns formation between 24624-24691 yesterday and Nifty was not prepared for any side bigger moves therefore firstly  Nifty traded within this range today. Although firstly upward moves but clear fresh selling patterns developed at higher levels therefore decisive downward begun which remained continued till last half hour because follow up selling was also through Down moves with upward corrections.

Nifty consolidated between 24511-24570 on 10-12-2024 and traded sideways most time within this range between 24528-24574 in last 2 hours today also as well as these levels are near the lowest of last 5 sessions also therefore 24511-24574 has become most crucial because once sustaining below it or forceful break down of this range will confirm breaking down of last 5 sessions trading range and resultant deeper correction will be seen. 

As sustaining below 24511 will confirm deeper correction beginning therefore firstly it should be watched because Nifty closed at the lowest of last 5 sessions today and if Nifty sustains above 24574 after fresh intraday consolidation then fresh and decisive upward moves will been hence 24511-24574 has become most Crucial and next Trend decider. 

Firstly watch sustaining beyond

 24624-24691 for next bigger decisive

 moves beginning confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(12-12-2024)

Nifty-Intra Day Chart (11-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Upward moves from intraday lower levels in first 2 hours.

2- More than 5 hours trading with Mixed Patterns formation between 24624-24691.

3- Whole day actual trading between 24584-24691.

Conclusions from intra day chart analysis 

Although firstly upward moves from intraday lower levels in first 2 hours but higher levels more than 5 hours trading was with Mixed Patterns formation between 24624-24691 therefore firstly Nifty will trade and prepare for next decisive moves within and near about this trading range. As finally sustaining beyond 24624-24691 will confirm next bigger decisive moves beginning therefore it should be firstly watched in the coming sessions for confirmations.

Finally sustaining beyond 24511-24677 will confirm next bigger decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(11-12-2024)

Nifty-Intra Day Chart (10-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24624-24677

2- Downward moves

3- Consolidation between 24511-24570

4- Whole day actual trading between 24511-24677

Conclusions from intra day chart analysis 

Although firstly some upward moves after positive opening but higher levels fresh selling developed and intraday selling patterns were senn in previous sessions also therefore downward moves were seen in Mid-session. As lower levels consolidation patterns formations also therefore whole day today trading will be understood with Mixed Patterns formations between 24511-24677 and Nifty will firstly trade as well as prepare for next decisive moves within and near about today trading range. Let Nifty prepare after that firstly through intraday trading patterns formations and finally sustaining beyond today trading range will confirm next bigger decisive moves beginning which should be watched in the coming sessions.

Watch next Supports amid firstly Short Term correction expectations

Technical Analysis,Research & Weekly Outlook

(Dec 09 to Dec 13,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (06-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.

5- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.

6- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.  

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

8- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024.

9- Corrective Wave-(iV) of Wave-3 recent bottom formations at 23263.20 on 21-11-2024.

10- Pull Back rally continuation with recent top formations at 24857.8 on 05-12-2024.

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and impulsive Wave-1 of new Waves structure begun from this level.  Impulsive Wave-1 completed at 18887.60 on 01-12-2022 and from this level corrective Wave-2 started which completed at 16828.30 on 20-03-2023 and impulsive Wave-3 started from this level.  

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B started from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-(iV) of Wave-3 started and now stronger signals of its completion have emerged on EOD charts after its bottom formations at 23263.20 on 21-11-2024 because Pull Back rally which begun from its bottom is in continuation strongly with recent top formations at 24857.8 on 05-12-2024 after gaining 1594.6 points and no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (06-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- Stochastic- Its both lines %K(5) and %D(3) are kissing in Over bought zone.

2- Stochastic:- %K(5)- 82.55 & %D(3)- 86.34.

3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive and negative zone.

4- MACD(26,12)- 260.70 & EXP(9)- -46.20 & Divergence- 306.9

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing in Over bought zone therefore it will be understood that this indicator has generated first and strong signal of Short Term correction beginning which will be seen in the coming week/weeks

2- As in MACD its MACD line has intersected Average line upward and its both lines are rising in positive and negative zone therefore it will be understood that MACD indicator has shown stronger signals of Upward Trend formations and resultant on resultant on going rally continuation.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (06-Dec-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24517 

2- 21-Day SMA is today at 24071

3- 55-Day SMA is today at 24652

4- 100-Day SMA is today at 24707

5- 200-Day SMA is today at 23719

Conclusions from EOD chart analysis

(Averages)

The rally which begun after getting supports at Long Term Trend decider 200-Day SMA at 23263.20 on 21-11-2024 is now in continuation and 2 times tested also Intermediate Term Trend decider 55-Day SMA in last 2 sessions of previous week. Short and Long Term Trends are already up and finally sustaining beyond 55-Day SMA will decide the fate of Intermediate Term Trend in following manner which is now at stake:-

1- Sustaining above 55-Day SMA will mean Strong rally beginning towards and/or above life time top because that will confirm on going Intermediate Term correction completion at 23263.20 on 21-11-2024.

2- Sustaining below 55-Day SMA will mean that Intermediate Term Trend is still down and resultant downward moves will be seen toward and/or below the bottom of on going Intermediate Term correction at 23263.20.   

Nifty-Intra Day Chart Analysis

(06-Dec-2024)

Nifty-Intra Day Chart (06-Dec-2024):-

Technical Patterns formation in today intraday charts

1- RBI Monetary Policy led volatility

2- More than 4 hours sideways trading between 24658-24722 with more selling patterns formations signals

3- Whole day actual trading between 24621-24751

Conclusions from intra day chart analysis 

Although firstly RBI Monetary Policy led volatility but after that quiet market and More than 4 hours Sideways trading was seen within 64 points between 24658-24722. As more selling patterns formations in the last more than 4 hours sideways trading therefore higher possibility of firsly downward moves beginning towards and/or below last Friday lowest(24621) as well as finally sustaining it beyond will generate next decisive moves beginning in the coming week.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is up.

Impulsive Wave-1 of new Waves structure begun from 15183.40 on 17-06-2022 after corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-(iii) of Wave-3 of this Waves structure completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-(iV) of Wave-3 begun as well as its completion signals have also been emerged after its recent bottom formations at 23263.20 on 21-11-2024 because the Rally which started from this levels is now in continuation strongly with recent top formations at 24857.8 on 05-12-2024 and no confirmation of its completion yet on EOD and intraday charts.

Although Short Term indicator MACD is showing stronger signals of on going upward moves continuation after Upward Trend formations but another Short Term indicator Stochastic is indicating that Short Term downward moves are on card which may also begun any day. Final conclusion from Short Term indicators is that firstly Short Term correction will be seen because intraday charts of last Friday are also showing some selling patterns formations. Let firstly expected Short Term correction complete then after that upward moves will be considered according to that time technical patterns formations.

Intermediate Term trend is at stake and finally sustaining beyond its decider 55-Day SMA(today at 24652) will confirm its next Trend(Up or Down) formations as well as generate those bigger moves which have already been explained above. As Short Term indicator Stochastic is Over bought and selling patterns fomations in last Friday intraday charts also therefore firstly Short Term correction will be seen in the coming week and sustaining beyond following next supports should be watched one by one for next decisive moves beginning confirmations:- 

1- 24565-24670

2- 24388-24439 

3- 24143-24222

4- 24079-24117

 Finally Levels will confirm next Trend after Reserve Bank of India MPC policy decisions led volatility

Nifty-Intra Day Chart Analysis &

Market Outlook(06-12-2024)

Nifty-Intra Day Chart (05-Dec-2024):-

Technical Patterns formation in today intraday charts

1- 233 Points fall in first 2 hours 

2- Consolidation between 24312-24384

3- Sharp up

4- Consolidation between 24565-24670

5- Sharp up

6- Selling between 244771-24857

7- Volatility in last hour between 24494-24752

8- Whole day actual trading between 24296-24857

Conclusions from intra day chart analysis 

As higher levels intraday selling was seen in previous sessions therefore firstly 233 Points fall was seen in first 2 hours and Nifty traded 71 points below the lowest(24367) of yesterday also but lower levels consolidation developed therefore sharp upward moves were seen after that. More than 2 hours follow up intraday consolidation was also seen in Mid- session therefore again sharp up moves developed after that but higher levels good selling was also seen therefore 323 points sharp fall in only 12 minutes and huge volatility in last hour between 24494-24752.

All these today upward moves and high last hour volatility was on the expectations of Reserve Bank of India led Monetary Policy Committee (MPC) bi-monthly policy decisions which will unveil tomorrow at 10:00 am and this volatility may be seen tomorrow also therefore firstly sustaining beyond today 2nd consolidation and selling range(24565-24857) should be watched tomorrow for next intraday decisive moves beginning confirmations. 

Downward moves expectations

below today lowest

Nifty-Intra Day Chart Analysis &

Market Outlook(05-12-2024)

Nifty-Intra Day Chart (04-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24510-24573

2- Sharp fall

3- Selling between 24509-24539

4- Sharp fall

5- Whole day actual trading between 24367-24573

Conclusions from intra day chart analysis 

As higher levels intraday selling was seen yesterday and fresh selling developed  2 times today also therefore 2 times sharp fall was seen today and resultant firstly downward moves below today lowest(24367) are expected and after that sustaining it beyond should be watched for next decisive moves beginning confirmations.

Watch 24388 amid firstly downward

 moves expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(04-12-2024)

Nifty-Intra Day Chart (03-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Firstly 87 Points down moves in first 15 minutes after 91 points positive opening

2- Sharp upward moves

3- Consolidation between 24388-24439 in Mid-session

4- Selling Patterns formation in last 2 hours between 24453-24481

5- Whole day actual trading between 24281-24481

Conclusions from intra day chart analysis 

Although firstly 87 Points down moves in first 15 minutes after 91 points positive opening but after that sharp upward moves were seen and Nifty recovered all this loss and started to trade strongly because good intraday consolidation was also seen in Mid-session. As higher levels intraday selling Patterns formations also in last 2 hours therefore firstly downward moves are expected but just below it consolidation was also seen therefore until Nifty will sustain below 24388 after complete intraday selling patterns formation till then decisive downward moves will not be seen.

As out of station therefore unable 

to post today(03-12-2024) Outlook. 

Firstly immediate Supports & Resistances and Finally 3 Averages will show signals and finally confirmations

Technical Analysis,Research & Weekly Outlook

(Dec 02 to Dec 06,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (29-Nov-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-2 completion at 16828.30 on 20-03-2023 and impulsive Wave-3 beginning.

2- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.

3- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.

4- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.  

5- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

6- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 beginning.

7- Corrective Wave-4 continuation with recent bottom formations at 23263.20 on 21-11-2024.

8- Short Term upward moves continuation with recent top formations at 24354.5 on 27-11-2024.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-3 started from 16828.30 on 20-03-2023 after corrective Wave-2 completion at this levels. Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B started from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 started which is now in continuation with its recent bottom formations at 23263.20 on 21-11-2024 and no confirmation of its completion yet on EOD charts. Short Term upward moves begun from the lower levels(23263.20) of on going correction which are in continuation with recent top formations at 24354.5 on 27-11-2024 and no confirmation of its completion yet also on EOD and intraday charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (29-Nov-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 67.34 & %D(3)- 78.05.

3- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.

4- MACD(26,12)- -154.89 & EXP(9)- -324.64 & Divergence- 169.75

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone. therefore it will be understood that this indicator has generated first and strong signal of Short Term downward moves beginning which will be seen in the coming week/weeks.

2- As in MACD its MACD line has intersected Average line upward and its both lines are rising in negative zone therefore it will be understood that MACD indicator has generateed Short Term upward Trend formation with upward moves beginning and continuation signals which were seen in previous week also.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (29-Nov-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24147 

2- 21-Day SMA is today at 23998

3- 55-Day SMA is today at 24723

4- 100-Day SMA is today at 24700

5- 200-Day SMA is today at 23651

Conclusions from EOD chart analysis

(Averages)

As Nifty has sustained above Long Term Trend decider 200-Day SMA in previous week up moves therefore Long Term Trend is still up but Intermediate Term Trend is still down confirmly because Nifty is sustaining well below its decider 55-Day SMA for the last more than 6 weeks. Short Term Trend is at stake because Nifty has hovered around its decider 21-Day SMA in previous week.

 

Although Short Term Trend decider 21-Day SMA is now between Long Term Trend decider 200-Day SMA and Intermediate Term Trend decider 55-Day SMA but at stake therefore firstly its clear direction should be watched in the coming week/weeks because that will confirm all the Trends turning upward above 55-Day SMA or all the Trends turning downward below 200-Day SMA 

Nifty-Intra Day Chart Analysis

(29-Nov-2024)

Nifty-Intra Day Chart (29-Nov-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 23928-24022

2- Sharp up

3- Last 5 hours upward moves with lower levels consolidation and higher levels selling patterns formations

4- Whole day actual trading between 23928-24188

Conclusions from intra day chart analysis 

As positive Global cues last Friday morning therefore firstly consolidation and after that sharp upward moves were seen but last 5 hours upward moves were with lower levels consolidation and higher levels selling patterns formations hence whole day last Friday trading will be understood with Mixed Patterns formation between 23928-24188 and firstly sustaining beyond this range should be watched in next week for next decisive moves beginning confirmations.

Conclusions (After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is down.

3- Short Term Trend is at stake.

Impulsive Wave-3 which started from 16828.30 completed with new life time top formations at 26277.30 and corrective Wave-4 begun which is now in continuation after recent bottom formations at 23263.20 and no confirmation of its completion yet on EOD charts. Short Term upward moves started which are in continuation with recent top formations at 24354.5 and no confirmation of its completion also on EOD and intraday charts.

As huge unexpected victory of BJP in Assembly Elections on 23-11-2024(Saturday) therefore previous week Short Term upward moves begun after 296 points gap up opening on 25-11-2024(Monday) but after that further decisive up moves were not seen in the following 4 sessions of previous week and Nifty traded sideways between 23874-24354 as well as 296 points gap of 25-11-2024 has also been filled up. As both intraday consolidation and selling patterns seen in last 5 sessions therefore expected that Nifty will firstly trade within last 5 sessions trading range in the coming week and will prepare for next trend within this range. Immediate supports and resistances of last 5 sessions are as follows:-

Immediate supports:-

1- 24079-24117

2- 24143-24222

Immediate resistances:-

1- 24286-24354

2- 24314-24345

Although Short Term indicator MACD is showing upward moves continuation signals but  Stochastic is indicating downward moves beginning. As most time Stochastic shows immediate moves beginning signals and MACD generate signals little later therefore firstly downward moves beginning can not be ruled out hence firstly watch above mentioned immediate supports/resistances and finally sustaining beyond 23874-24354 should be watched in the coming week/weeks for first stronger signal of next trend formations.   

As finally next bigger moves beginning will be seen after next Trend formations which will be decided through following 3 Averages therefore these should be watched one by one for next Trend formations and next bigger moves beginning confirmations:-

1- Firstly watch 21-Day SMA(today at 23998) for next Trend beginning first signal.

2- Finally sustaining above 55-Day SMA(today at 24723) will mean strong rally beginning after all Trends turning up.

3- Finally sustaining below 200-Day SMA(today at 23651) will mean deeper correction beginning after all Trends turning down.

Finally sustaining beyond 24126-25354 will generate bigger moves

Nifty-Intra Day Chart Analysis &

Market Outlook(28-11-2024)

Nifty-Intra Day Chart (27-Nov-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 24146-24222

2- Upward moves

3- Selling between 24286-24354

4- Whole day actual trading between 24146-24354

Conclusions from intra day chart analysis 

Following lines were told at 01:24 AM on 27-11-2024 in "Finally sustaining beyond 24126-25351 will confirm next intraday bigger decisive moves beginning":-

last 2 sessions intraday trading will be understood with Mixed Patterns formation between 24126-25351 and firstly sustaining beyond this range should be watched in the coming sessions for next intraday bigger decisive moves beginning confirmations.

Nifty traded most time within last 2 sessions trading range(24126-25351) between 24146-24354 today 

Although firstly downward moves after positive opening but lower levels good consolidation developed therefore upward moves were seen in Mid-Session and Nifty recovered more than 200 points also from lower levels. As higher levels selling was also seen in last 3 hours therefore whole day today trading also will be understood with Mixed Patterns formation between 24146-24354.

As last 2 sassions trading was with Mixed Patterns formation between 24126-25351 and today most time trading was also within this range between 24146-24354 therefore it is clear that last 3 sessions trading had been with Mixed Patterns formation between 24126-24354 and it will be understood that Nifty is preparing for next bigger moves between 24126-24354 which will be seen after sustaining beyond this last 3 sessions trading range.

 Finally sustaining beyond 24126-25351 will confirm next intraday bigger decisive moves beginning

Nifty-Intra Day Charts Analysis & 

Market Outlook(27-11-2024)

Nifty-Last 2 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Nov 25 & Nov 26,2024):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Intraday trading patterns formations on 25-11-2024:-

A- Selling between 24286-24351 after 296 points gap up opening 

B- Sharp fall in Mid-session

C- Up moves with downward corrections

2- Intraday trading patterns formations on 26-11-2024:-

A- 176 Ponts fall from higher levels in first hour and 15 minutes after 121 points positive opening

2- More than 2 hours consolidation between 24143-24194 in Mid-session

3- Last 2 Sessions actual trading between 24126-25351 

Conclusions from 2 Sessions 

intra day chart analysis 

As huge unexpected victory of BJP in Assembly Elections last Saturday therefore 296 points gap up opening was seen on 25-11-2024 but sentiment turned heated hence higher levels selling developed in the next more than 2 hours and Nifty could not sustain at higher levels as well as sharp fall was seen in Mid-session. Although Nifty lost more than 200 points from intrday higher levels but last more than 2 hours upward moves were with downward corrections which means that consolidation also developed at lower levels. As higher levels good intraday selling was seen one day before therefore firstly 176 Ponts fall was seen from higher levels in first hour and 15 minutes after 121 points positive opening on 26-11-2024. More than 2 hours consolidation was also seen at lower levels between 24143-24194 in Mid-session on 26-11-2024 therefore last 2 sessions intraday trading will be understood with Mixed Patterns formation between 24126-25351 and firstly sustaining beyond this range should be watched in the coming sessions for next intraday bigger decisive moves beginning confirmations.