Watch next supports,resistances & levels after Long Term Trend turning down confirmations

Technical Analysis,Research & Weekly Outlook

(Jan 13 to Jan 17,2025)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (10-Jan-2025):-

Technical Patterns and Formations in EOD charts

1- 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. 

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

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

4- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.

5- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 23344.35 on 10-01-2025.

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of Wave-(ii) of Wave-3 completed at 18837.80 on 26-10-2023 and from this level impulsive Wave-(iii) of Wave-3 started which completed with new life time top formations at 26277.30 on 27-09-2024 and from this level corrective Wave-A of Wave-(iv) of Wave-3 of "ABC" correction begun. 

Corrective Wave-A completed at 23263.20 on 21-11-2024 and from this lvel Wave-B started which completed at 24857.80 on 05-12-2024. Corrective Wave-C begun from this level which is in continuation with recent bottom formations at 23344.35 on 10-01-2025 and no indication of its completion yet on EOD charts.  

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (10-Jan-2025):-

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)- 14.14 & %D(3)- 18.45.

3- In MACD- MACD line has intersected Average line upward and its both lines have started to rise in negative zone.

4- MACD(26,12)- -279.16 & EXP(9)- -373.75 & Divergence- 94.59

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 has not shown any upward move beginning signal yet. Let its both lines to move above Over sold zone after upward intersection then decisive upward moves will be seen. 

2- As in MACD its MACD line has intersected Average line upward and its both lines have started to rise in negative zone therefore it will be understood that this indicator has generated first signal of Upward trend formations and resultant moves beginning.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (10-Jan-2025):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 23594 

2- 21-Day SMA is today at 23919

3- 55-Day SMA is today at 24082

4- 100-Day SMA is today at 24588

5- 200-Day SMA is today at 23940

Conclusions from EOD chart analysis

(Averages)

Short and Intermediate Term Trends were already down and Long Term Trend has turned down in previous week after last 5 sessions closing below its decider 200-Day SMA which means that more downward moves will be seen in the coming weeks/months. 

Nifty-Intra Day Chart Analysis

(10-Jan-2025)

Nifty-Intra Day Chart (10-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Sharp fall in first half hour

2- Consolidation between 23345-23446

3- Sharp up

4- Selling between 23498-23601

5- Sharp fall

6- Consolidation between 23401-23446

7- Whole day actual trading between 23345-23596

Conclusions from intra day chart analysis 

Although firstly upward moves were seen after positive opening and Nifty traded 69 points up also but Nifty could not sustain and moved down sharply in first hour. As lower levels consolidation developed therefore sharp upward moves were seen in the next hours but selling was seen at higher levels hence again sharp fall was seen and again lower levels consolidation developed in last hour.                              

It is clear that both lower levels consolidation and higher levels selling was seen last Friday therefore whole day trading will be understood with Mixed Patterns formation between 23345-23596 hence Nifty will trade and prepare for next Short Term moves within and near about this trading range in the beginning of next week as well as finally sustaining beyond this trading range will confirm next Short Term moves beginning in next week.

Conclusions

(After putting all studies together)

1- Long Term Trend is at down.

2- Intermediate Term trend down.

3- Short Term Trend is down.

Corrective Wave-C of Wave-(iv) of Wave-3 of that impulsive Wave-(iii) of Wave-3 is in continuation with recent bottom formations at 23344.35 on 10-01-2025 which started from 18837.80 on 26-10-2023 and no indication of its completion yet on EOD charts. 

As Short Term indicator MACD has generated first signal of Upward trend formations and resultant showing upward moves beginning possibility but another Short Term indicator Stochastic is completely over sold and not producing Short Term upward moves signals therefore let Stochastic to generate clear upward moves beginning signals then decisive up moves beginning will be expected. 

Fibonacci Retracement Crucial levels of Wave-(iii) of Wave-3(18837.80-26277.30) are as follows which should be watched for first signal of on going downward Trend continuation/completion:- 

38.2%- 23,435 (Crucial Level)-Retraced

50.0%- 22,557 (Crucial Level)

61.8%- 21,679 (Crucial Level)

As all the Short to Long Term Averages are confirming that all the Trends are down after Long Term Trend turning down confirmations in previous week therefore more downward moves will be seen towards following supports in the coming weeks/months:- 

1- 23298-23337

2- 23161-23206

3- 22961-23096

4- 22760-22871

5- 22291-22395

6- 21884-22191

7- 21502-21582

8- 21417-21500

Next resistances above last Friday closing are as follows which should be watched one by one for next upward/downward moves beginning confirmations:-

1- 23498-23601

2- 23603-23649

3- 23834-23877

4- 23892-24065

5- 24106-24143

6- 24191-24230

7- 24282-24314

Although Long Term Trend turning down confirmations and more downward moves will be seen but in the mean time Short and Intermediate Term upward moves will also be seen. In this situation it should be kept in mind that until Nifty will not sustain above Long Term Trend decider 200-Day SMA(today at 23940) till then decisive upward moves will not be seen and above mentioned next supports,resistances and levels should be watched one by one for next upward/downward moves beginning signals and confirmations.

Watch immediate supports between 

23298-23337 for next intraday 

decisive moves beginning confirmations 

after weaker cues led sharp fall

Post-open Outlook(10-01-2025)

As more than 4 hours consolidation pattern formations were seen yesterday therefore firstly upward moves were seen and Nifty traded 69 points up also after positive opening today despite weaker Global cues today morning. All the Asian markets are trading .50% to more than 1% down and sentiment was depressed today therefore Nifty could not sustain after initial up moves and moved down sharply. Immediate supports are between 23298-23337 which should be firstly watched today for next intraday decisive moves beginning confirmations.

 Firstly watch 23504-23567 after 

all weaker Global markets today

Pre-open Outlook(10-01-2025)

As Dow Jones Futures traded 198 points down today morning and in reaction all the Asian markets are now trading in negative zone therefore sentiment is depressed hence in reaction weaker opening of Indian markets can not be ruled out today. Nifty traded between 23504-23567 in the last more than 4 hours yesterday and firstly sustaining beyond this range should be firstly watched today for next intraday decisive moves beginning confirmations after all weaker Global markets today.

Watch sustaining beyond today highest 

amid upward moves expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(10-01-2025)

Nifty-Intra Day Chart (09-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Selling between 23603-23649

2- Sharp fall

3- More than 4 hours down moves in Bullish Falling Channel

4- Whole day actual trading between 23504-23689

Conclusions from intra day chart analysis 

Although firstly selling after negative opening and after that sharp fall also developed as well as Nifty traded 185 points down also but last more than 4 hours down moves were in Bullish Falling Channels which is a consolidation pattern therefore upward moves are expected towards today highest(23689) despite 162 points negative closing today. Finally sustaining beyond today highest should be watched for next intraday decisive moves beginning confirmations.

2 Levels will confirm today

decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(08-01-2025)

Nifty-Intra Day Chart (07-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour between 23638-23795

2- More than 5 hours sideways trading between 23691-23765

3- Whole day actual trading between 23638-23795

Conclusions from intra day chart analysis 

Although firstly 157 points Volatility in first hour but after that more than 5 hours 74 points narrow range sideways trading developed yesterday. As one sided intraday patterns formations were not seen yesterday therefore next intraday decisive moves beginning will be seen after sustaining beyond following 2 intraday trading levels of yesterday which should be watched one by one for first signal and final confirmation of today intraday decisive moves beginning:-

1- 23691-23765(First signal)

2- 23638-23795(Final confirmation)

Upward moves expectations towards

 today highest

Nifty-Intra Day Chart Analysis & 

Market Outlook(07-01-2025)

Nifty-Intra Day Chart (06-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- More than 3 hours consolidation patterns formations between 23552-23769

3- Whole day actual trading between 23552-24089

Conclusions from intra day chart analysis 

Although firstly upward moves after positive opening but selling started through down moves with upward corrections which remained continued more than 2 hours. As More than 3 hours consolidation patterns formations also therefore upward moves are expected towards today highest(24089) and finally sustaining it beyond should be watched tomorrow for next decisive moves beginning confirmations

Watch 3 crucial levels one by one for next trend formations and that side decisive moves beginning confirmations

Technical Analysis,Research & Weekly Outlook

(Jan 06 to Jan 10,2025)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (03-Jan-2025):-

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 24857.80 on 05-12-2024.

11- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 23460.50 on 31-12-2024

12- Last 11 sessions trading between 23460.50-24226.70 after 277 points gap down opening on 19-12-2024.

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 from this level impulsive Wave-1 of new Waves structure begun which 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 begun from this level.

Impulsive Wave-(i) of Wave-3 completed at 20222.40 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. Wave-B begun from this level which completed at 19849.80 on 17-10-2023 and Wave-C started which completed at 18837.80 on 26-10-2023. Impulsive Wave-(iii) of Wave-3 begun from this level which 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 from this level. 

Corrective Wave-A of Wave-(iv) of Wave-3 completed at 23263.20 on 21-11-2024 and 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 23460.50 on 31-12-2024 and no confirmation of its completion yet on EOD charts. Last 11 sessions trading was between 23460.50-24226.70 after 277 points gap down opening below 24150 on 19-12-2024 and this huge gap was filled up after 483 points strong rally and Nifty closed above 24150 at 24188.7 on 02-01-2025. As finally sustaining beyond last 11 sessions trading range(23460.50-24226.70) will confirm the lenth of on going corrective Wave-C of Wave-(iv) of Wave-3 and with it on going "ABC" correction also therefore should be watched for both these trends formation confirmations.  

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (03-Jan-2025):-

Technical Patterns and Formations in EOD charts

1- Last 11 sessions trading between 23460.50-24226.70 after 277 points gap down opening on 19-12-2024.

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

3- Stochastic:- %K(5)- 75.04 & %D(3)- 58.75.

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

5- MACD(26,12)- -391.63 & EXP(9)- -290.57 & Divergence- -101.06

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 upward and its both lines are rising towards Over bought zone and have not turned Over bought yet therefore it will be understood that this indicator is showing on going Short Term upward moves continuation possibility.

2- As in MACD its MACD line has intersected Average line downward and its both lines are falling in negative zone therefore it will be understood that this indicator is confirming Downward Trend formation and signalling more downward moves possibility.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (03-Jan-2025):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 23845 

2- 21-Day SMA is today at 24170

3- 55-Day SMA is today at 24189

4- 100-Day SMA is today at 24626 

5- 200-Day SMA is today at 23899

Conclusions from EOD chart analysis

(Averages)

As Nifty is trading between and near about Intermediate Term Trend decider 55-Day SMA and Long Term Trend decider 200-Day SMA for the last 12 sessions as well as hovering around Short Term Trend decider 21-Day SMA for the last 2 sessions therefore it will be understood that now all the trends are at stake. Finally sustaining beyond 55-Day SMA or 200-Day SMA will confirm next Trend formations and resultant that side decisive moves will beginning therefore it should be watched for all the trends formation and that side decisive moves beginning confirmations.

Nifty-Intra Day Chart Analysis

(03-Jan-2025)

Nifty-Intra Day Chart (03-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Whole day down moves in Bullish Falling Channels

2- Sharp up moves

3- 3 Times selling in sideways trading range.

4- Whole day actual trading between 23976-24196

Conclusions from intra day chart analysis 

Although flat opening but after that immediately downward moves started which remain continued till last minutes and Nifty closed 0.76% down also last Friday. As Whole day down moves were in Bullish Falling Channels which is a consolidation pattern also therefore once sharp up moves were seen but selling also developed 3 times in sideways trading range therefore whole day Mixed Patterns formations will be understood last Friday. 

As whole day down moves were in Bullish Falling Channels therefore up ward moves are expected within last Friday trading range but until complete consolidation patterns will not develop till then Nifty will not be able to move above last Friday highest and fresh selling will not mean correction continuation below last Friday lowest also therefore firstly sustaining beyond last Friday trading range should be watched in next week for 1st signal generation of next decisive moves beginning.

Conclusions

(After putting all studies together)

1- Long Term Trend is at stake.

2- Intermediate Term trend at stake.

3- Short Term Trend is at stake.

Now corrective Wave-C of Wave-(iv) of Wave-3 of that Waves structure is in continuation with recent bottom formations at 23460.50 on 31-12-2024 which begun through its impulsive Wave-1 from 15183.40 on 17-06-2022. As no confirmation of on going Wave- C completion yet therefore firstly sustaining beyond levels will be watched in the coming week/weeks for its continuation/completion confirmations.

Although Short Term indicator Stochastic is showing signals of some more upward moves possibility in next week but another Short Term indicator MACD is confirming Downward Trend formations therefore finally fresh downward moves beginning possibility can not be ruled out after some upward moves.

As last Friday intraday trading was also seen with Mixed Patterns formations between 23976-24196 therefore firstly sustaining it beyond should be watched for 1st signal of next trend formations. It should be kept ion mind that finally sustaining beyond last 11 sessions trading range(23460.50-24226.70) will confirm the length of on going corrective Wave-C therefore should be watched for the life of on going "ABC" correction also.

Averages are suggesting that firstly Nifty will move between 55-Day SMA(today at 24189) and 200-Day SMA(today at 23899) in the coming week therefore finally sustaining beyond these 2 SMAs should be watched in the coming week/weeks for on going correction completion confirmations through sustaining above 55-Day SMA and/or correction continuation confirmations through sustaining below 200-Day SMA. 

Firstly and finally sustaining beyond following 3 crucial levels should be watched one by one in the coming week/weeks for next trend formations and that side decisive moves beginning confirmations:-    

1- Last Friday trading range(23976-24196)

2- Last 11 sessions trading range(23461-24226)

3- 55-Day SMA(today at 24189)-200-Day SMA(today at 23899)

As out of station therefore unable 

to post today(03-01-2025) Outlook. 

Watch today highest amid 

upward moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-01-2025)

Nifty-Intra Day Chart (01-Jan-2025):-

Technical Patterns formation in today intraday charts

1- Consolidation between 23563-23658

2- Sharp up

3- 3 Times consolidation between 23690-23753

4- Whole day actual trading between 23563-23822

Conclusions from intra day chart analysis 

Although firstly down moves after negative opening and Nifty traded 82 points down also but good intraday consolidation was seen yesterday and fresh consolidation developed today also therefore after that sharp up moves seen. As 3 times consolidation between 23690-23753 in last hours also therefore upward moves are expected towards today highest and sustaining it beyond should also be firstly watched because Nifty could not sustain at higher levels also.

Upward moves expectations towards

 next resistances

Nifty-Intra Day Chart Analysis &

Market Outlook(01-01-2025)

Nifty-Intra Day Chart (31-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 23461-23543

2- Up moves with downward corrections

3- Consolidation between 23578-23603

4- Consolidation between 23623-23657

5- Whole day actual trading between 23461-23689

Conclusions from intra day chart analysis 

Although all the US markets closed 0.97% to 1.56% down yesterday but Nifty traded with Mixed Patterns formation in last 2 hours between 23600-23701 yesterday therefore we told following conclusive line at 02:57 AM today in "Sustaining beyond 23600-23701 will confirm next intraday decisive moves beginning":-

As Mixed Patterns formation in last 2 hours between 23600-23701 therefore firstly sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Sustaining beyond 23600-23701 was told and Nifty closed within this range at 23644.80 with today highest formations within this range at 23689.85.

As all the opened Asian markets were also trading in Red today morning therefore firstly downward moves were seen after weaker opening but lower levels consolidation developed and whole day consolidation patterns were also seen therefore upward moves are expected above today highest(23689) and towards next resistances(23846-23915) tomorrow.

Sustaining beyond 23600-23701 

will confirm next intraday 

decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(31-12-2024)

Nifty-Intra Day Chart (30-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Up moves with downward corrections

3- 2 Times sharp up moves

4- Selling between 23846-23915

5- 2 Times sharp down moves

6- Mixed Patterns formation between 23600-23701 

7- Whole day actual trading between 23600-23915

Conclusions from intra day chart analysis 

Although firstly down moves after negative opening and Nifty traded 101 points down also but these down moves were in Bullish Falling Channel which is a consolidation pattern therefore upward moves started. As these up moves were with downward corrections which is also a consolidation pattern therefore 2 times sharp up moves were seen and Nifty recovered all intraday loss and traded 100 points up also. 

As higher levels selling developed and intraday selling was seen in previous sessions also above today highest therefore 2 times sharp down moves developed and Nifty closed near the lowest of the day after loosing all intraday gains. As  Mixed Patterns formation in last 2 hours between 23600-23701 therefore firstly sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Long Term Trend is at stake & watch

 levels for its formation confirmations

Technical Analysis,Research & Weekly

 Outlook(Dec 30  to Jan 03,2025)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (27-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- 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. 

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

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

4- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.

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

6- Last 6 Sessions trading between 23538-24065

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level "ABC" correction started. Corrective Wave-C of Wave-(ii) of Wave-3 completed at 18837.80 on 26-10-2023 and from this level impulsive Wave-(iii) of Wave-3 begun. 

Impulsive Wave-(iii) of Wave-3 completed after new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-A of Wave-(iv)of Wave-3 begun which completed at 23263.20 on 21-11-2024. Corrective Wave-B of Wave-(iv) of Wave-3 started from this levels which completed at 24792.30 on 13-12-2024. From this levels corrective Wave-C of Wave-(iv) of Wave-3 begun which is now in continuation with recent bottom formations at 23537.30 on 20-12-2024. 

144 Points downward gap(24405-24149) formation on 19-12-2024 and after that long Black Candle formation was seen between 23538-24065 on 20-12-2024. Nifty traded all the 4 sessions of previous week within the range of this Candle and last 6 trading was also within the range of this Candle which means that Nifty is preparing for next bigger moves between 23538-24065 for the last 6 sessions. As 84 points gap(24065-24149) is still lying above the highest of last 6 sessions trading range(23538-24065) and this gap is immediate resistance of Nifty as well as until this gap will not be filled up through Nifty moving above 24149 till then any up move will not be seen therefore firstly filling of this gap should be watched for any upward move beginning confirmations.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (27-Dec-2024):-

Technical Patterns and Formations in EOD charts

1- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising above Over sold zone.

2- Stochastic:- %K(5)- 38.24 & %D(3)- 27.02.

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

4- MACD(26,12)- -286.09 & EXP(9)- 122.38 & Divergence- -408.47

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 upward and its both lines are rising above Over sold zone therefore it will be understood that this indicator is showing Short Term upward moves beginning stronger signals.

2- As in MACD its MACD line has intersected Average line downward and its both lines are falling in positive and negative zone therefore it will be understood that this indicator is signalling Downward Trend formation and suggesting more downward moves beginning possibility.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (27-Dec-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 23726 

2- 21-Day SMA is today at 24267

3- 55-Day SMA is today at 24296

4- 100-Day SMA is today at 24642

5- 200-Day SMA is today at 23861

Conclusions from EOD chart analysis

(Averages)

Nifty is trading between Intermediate Term Trend decider 55-Day SMA and Long Term Trend decider 200-Day SMA for the last more than 3 weeks. Firstly Nifty faced resistance after 8 sessions hovering around 55-Day SMA and from this level moved down 1100 points sharply as well as now hovering around 200-Day SMA for the last 6 sessions. Short and Intermediate Term Trends are down and now Long Term Trend is at stake as well as finally sustaining beyond its decider 200-Day SMA will confirm its next trend formations and resultant that sided bigger moves beginning which should be watched for its confirmations in the coming week/weeks.

Nifty-Intra Day Chart Analysis

(27-Dec-2024)

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

Technical Patterns formation in today intraday charts

1- Consolidation between 23817-23856

2- Sharp up

3- Selling between 23906-23938

4- Down moves with upward corrections

5- Mixed Patterns formation in last 3 hours between 23803-23872

6- Whole day actual trading between 23801-23938

Conclusions from intra day chart analysis 

As firstly consolidation after positive opening in first hour therefore after that sharp up moves were seen but higher levels selling developed hence could not sustained at higher levels and downward moves begun. Although firstly down moves were with upward corrections which is a intraday selling pattern but lower levels Mixed Patterns formation were seen in last 3 hours between 23803-23872 therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about this trading range.As finally sustaining beyond this trading range will generate first strong signal of next immediate decisive moves beginning therefore it should be firstly watched in the next week for its confirmations.

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.

"ABC" correction which started after impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 is in continuation through its corrective Wave-C of Wave-(iv) of Wave-3 continuation with its recent bottom formations at 23537.30 on 20-12-2024 and no confirmation of its completion yet on EOD charts.

Although Short Term indicator Stochastic is signalling upward moves beginning possibility but another Short Term indicator MACD is showing downward Trend formation also therefore it will be concluded from Short Term indicators analysis that finally downward moves will be seen after some upward moves. 

As Nifty is trading for the last 6 sessions between 23538-24065 and hovered around Long Term Trend  decider 200-Day SMA(today at 23861) also during these moves therefore it is confirm that now Long Term Trend is at stake and finally valid break out direction of this last 6 sessions trading range will confirm Long Term Trend formations and one sided bigger moves beginning according to its break out direction. Immediate supports and resistances of Nifty are as follows which should be watched one by one for fresh signals of Long Term Trend formation confirmation:-

Next supports in last 6 sessions trading range

1- 23706-23773

2- 23648-23708

3- 23298-23337

Next resistances in last 6 sessions trading range

1- 23892-24065

2- Gap(24066-24149)

3- 24204-24266

 Upward moves expectations towards

 today highest

Nifty-Intra Day Chart Analysis & Market

Outlook(27-12-2024)

Nifty-Intra Day Chart (26-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Upward moves after positive opening

2- Down moves with upward corrections

3- Sharp fall

4- More than 5 hours consolidation between 23706-23773

5- Whole day actual trading between 23654-23854

Conclusions from intra day chart analysis 

Although firstly upward moves after positive opening and Nifty traded 126 points up also in first 15 minutes but selling was seen through Down moves with upward corrections therefore sharp fall developed after that and Nifty traded in negative zone after loosing all intraday gains. As lower levels more than 5 hours consolidation was also seen between 23706-23773 therefore  upward moves are expected towards today highest(23854) and firstly sustaining it beyond should be be watched for next intraday decisive moves beginning confirmations.

 Sustaining beyond crucial levels will confirm next Trend formations and resultant next bigger moves beginning confirmations

Nifty-Intra Day Charts Analysis & 

Market Outlook(26-12-2024)

Nifty-Last 2 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Dec 23 & Dec 24,2024):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Technical Patterns formation on 23-12-2024.

A- Consolidation between 23701-23783. 

B- Sharp upward moves.

C- Selling between 23832-23869.

D- Sharp downward moves.

E- Consolidation between 23648-23708.

F- Consolidation between 23727-23765.

2- Technical Patterns formation on 24-12-2024.

A- Consolidation between 23716-23775.

B- Sharp upward moves.

C- Selling between 23810-23867.

D- Downward moves.

E- Consolidation between 23715-23750.

3- Last 2 Sessions actual trading between 23648-23869. 

Conclusions from 2 Sessions

intra day chart analysis 

Following line was told on 21-12-2024 in the "Nifty-Intra Day Chart Analysis(20-Dec-2024)" section of "Firstly sustaining beyond 200-Day SMA & finally 23263.20 will confirm length of on going correction":-

1- last more than 3 hours down moves were in Bullish Falling  Channels which is a consolidation pattern also therefore

2- firstly upward moves are expected towards 23892 in the beginning of next week.

As was told on 21-12-2024 100% same happened in following manner in the first 2 sessions of this week:- 

1- Upward moves were seen on towards 23892 and intraday highest was at 23,869.50 on 23-12-2024. 

2- Upward moves were seen on towards 23892 and intraday highest was at 23867.65 on 24-12-2024. 

As lower levels good intraday consolidation was seen above 23538 and higher levels evenly good intraday selling was also seen above 23892 on 20-12-2024 therefore firstly upward moves were expected towards 23892 in this week. Above mentioned intraday chart analysis of last 2 sessions is clearly showing that in the same manner lower levels intraday consolidation and higher levels intraday session patterns were seen in last 2 sessions also. 

Intraday charts analysis of last 3 sessions is clearly showing that both lower levels consolidation and higher levels intraday selling has been seen in last 3 sessions between 23538-24065 which means that:- 

1- Nifty is preparing for next bigger moves between 23538-24065 for the last 3 sessions after previous week 1100 points sharp fall.

2- Finally sustaining beyond 23538-24065 will confirm next bigger decisive moves beginning.

As Nifty is hovering around and closed below Long Term Trend decider 200-Day SMA(today at 23847) also in the last 3 sessions and finally sustaining beyond 23538-24065 will confirm next Long Term Trend formations also according to its sustaining beyond direction therefore firstly sustaining beyond following crucial levels should be watched in the coming sessions/week/weeks for next Trend formations and resultant that side next bigger moves beginning confirmations:-

1- Last 3 sessions trading range(23538-24065) and 

2- Long Term Trend decider 200-Day SMA(today at 23847)

As out of station therefore unable 

to post today(24-12-2024) Outlook. 

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 24857.80 on 05-12-2024.

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.