Firstly consolidation and then Rally continuation after good Budget

Technical Analysis,Research & Weekly Outlook

(Jul 08 to Jul 12,2019)

Nifty-EOD Chart Analysis(Modi ji's Victory gap)

Nifty-EOD Chart (05-Jul-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 165 Points "Modi ji's Victory gap" supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- Last 34 Sessions sideways trading between 11592-12103

Nifty-Intra Day Chart Analysis(05-07-2019)

Nifty-Intra Day Chart (05-Jul-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 11912-11981(Immediate Resistances)
2- Sharp fall after Budget
3- Mixed Patterns formation between 11798-11879
4- Whole day actual trading between 11798-11981

Conclusions from EOD chart analysis 

Although 1.14% fall on  Budget 2019-20 day last Friday but Short Term Trend is still sideways because closing was within last 34 Sessions range(11592-12103) at 11811.15.

165 Points "Modi ji's Victory gap" was formed between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019 and this gap is a symbol on Indian Stock markets faith on Modi ji's Government. Until this gap will not be filled up after slipping below 11426 till then big strong rally expectation will remain alive. 

Conclusions from intra day chart analysis 

As high expectations from Budget and most of the general traders have come for buying therefore huge selling on Budget expectations led heated sentiments resultant sharp fall after Budget and closing at lower levels of the day.  

As last 2 hours trading with Mixed Patterns formation between 11798-11879 therefore firstly follow up moves within and near about this range and finally sustaining beyond this range should be watched in the beginning of next week for real reaction of markets on Budget 2019-20. 

Conclusions (After Putting All Studies Together)

Waves structure of Nifty-EOD Chart was updated in previous weekly analysis and no material change since then because Nifty remained sideways within last 34 Sessions range(11592-12103) and no signal of its break out till now therefore Waves structure of Nifty-EOD Chart is not being posted in this Weekly Outlook.

Next resistance of Nifty are as follows:-

1- 11912-12000
2- 12045-12097 

Next supports of Nifty below last Friday lowest are as follows:-

1- 11642-11727(Strong supports)
2- "Modi ji's Victory gap"(11426-11591)

As good Budget(2019-20) was presented therefore finally rally will remain continued above life time highest(12103) but firstly consolidation will be seen between 11727-11912in the next few sessions because heated sentiments led huge selling developed yesterday between 11912-11981.

Watch levels also amid rally continuation expectations above life time highest 

Intra Day Chart Analysis & Market Outlook

(05-07-2019)

Nifty-Intra Day Chart (04-Jul-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 11950-11960
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 11924-11969

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly Watch Levels amid Economic survey led high volatility expectations":-

Although today closing near lower levels of the day after sharp fall in last hour but sufficient consolidation patterns formations also therefore expected that follow up consolidation will be seen tomorrow and finally rally is expected in next week. 

As sufficient consolidation patterns formations yesterday therefore whole day positive zone trading was seen today. Although some selling in first 2 hours but good consolidation through Down moves in Bullish Falling Channels in last hours also today therefore on going rally continuation expectations are alive despite today closing near lower levels of the day.

Following 3 resistance ranges were updated on 02-07-2019 in "Rally towards 12000 after follow up consolidation":-

1- 11842-11934(Crossed)
2- 11968-12000
3- 12045-12097 

Nifty was unable to move above 2nd resistance range bottom(11968) and slipped 30 points after making today highest at 11969.25. 

Union Budget 2019-20 tomorrow and Nifty failed to cross 2nd resistance today therefore view will be cautious because Budget led high volatility can not be ruled out tomorrow therefore next supports below today lowest should also be kept in mind:-

1- 11879-11896
2- 11815-11844
3- 11642-11727(Strong supports)
4- "Modi ji's Victory gap"(11426-11591)

Although multiple supports below today lowest but multiple resistances are also above today highest and Union Budget 2019-20 like big event by a new Finance Minister tomorrow therefore view will be cautious because Short Term Indicators have also turned overbought after last 12 sessions slow up moves.

As Indian markets have to react on Budget like big event tomorrow and Indian markets are sideways for the last 33 sessions therefore firstly sustaining beyond above levels should be watched also for next big moves confirmations amid finally rally continuation expectations above life time highest in next week.

Firstly Watch Levels amid Economic survey led high volatility expectations

Intra Day Chart Analysis & Market Outlook

(04-07-2019)

Nifty-Intra Day Chart (03-Jul-2019):-

Technical Patterns formation in today intraday charts

1- Sharp up from lower levels
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- 3 Hours Up moves with intraday corrections
5- Sharp fall in last hour
6- Whole day actual trading between 11888-11945

Conclusions from intra day chart analysis

As Indian markets have not shown strength after opening and one sided clear patterns formations were not seen also therefore following lines were told at 11:23 AM  today in "Firstly watch Levels after Global markets weakness today":-

firstly sustaining beyond 11879-11934 should be watched for next decisive moves confirmations because minor supports are above 11879 and old resistances are lying below 11934.

Nifty closed between 11879-11934 at 11916.75 today after whole day volatality within and near about this range. Although sharp fall in last hour but it will be understood a part consolidation because whole day sufficient consolidation and only minor selling was seen. As union Budget on 05-07-2019 and general traders would have come for buying in Mid-session after seeing 3 Hours Up moves therefore intraday correction of this up move was seen through sharp fall in last hour today.

Although today closing near lower levels of the day after sharp fall in last hour but sufficient consolidation patterns formations also therefore expected that follow up consolidation will be seen tomorrow and finally rally is expected in next week. 

As Economic survey led high volatility can not be ruled out tomorrow therefore firstly sustaining beyond 11815-12000 should be watched because this range will give final reaction on Budget also in the next 2/3 sessions.

Firstly watch Levels after Global markets weakness today

Post-open Outlook(03-07-2019)

Following line was told yesterday in "Rally towards 12000 after follow up consolidation":-

rally continuation is expected but follow up consolidation is firstky required near about today higher levels because last half hour quiet trading was at higher levels and resistances are lying upto 11934.

Resistances upto 11934 was told yesterday and Nifty is trading below it for the last 2 hours after today intraday highest formations in first minute at 11932.15.  

As flat trading in first 2 hours and one sided clear patterns formations have not been seen yet as well as all the Asian markets with Dow Jones's Futures are trading in negative zone since today opening therefore firstly sustaining beyond 11879-11934 should be watched for next decisive moves confirmations because minor supports are above 11879 and old resistances are lying below 11934.

Rally towards 12000 after follow up consolidation

Intra Day Chart Analysis & Market Outlook

(03-07-2019)

Nifty-Intra Day Chart (02-Jul-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Minor selling after positive opening
2- Consolidation between 11815-11844(Immediate Supports)
3- Up moves with intraday corrections
4- Last half hour quiet trading at higher levels.
5- Whole day actual trading between 11815-11917

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally continuation after fresh consolidation":-

1- some more consolidation is required within and near about today trading range for sustaining above today highest.
2- Nifty will firstly trade and prepare for next decisive up moves within today trading range
3- finally rally will remain continued after fresh consolidation

As was told 100% same happened and firstly Nifty consolidated within and near about yesterday trading range as well as finally strong recovery was seen from lower levels.

Following 3 resistances of Nifty were updated on 29-06-2019 in "Rally above 12103 and towards 13870.95 after Budget-2019":-

1- 11842-11934
2- 11968-12000
3- 12045-12097 

As firstly lower levels consolidation and after that up moves with intraday corrections therefore rally continuation is expected but follow up consolidation is firstky required near about today higher levels because last half hour quiet trading was at higher levels and resistances are lying upto 11934.

Expected that finaly rally will remain continued towards 12000 but follow up consolidation is must because next resistances are lying between 11968-12000.

Rally continuation after fresh consolidation

Intra Day Chart Analysis & Market Outlook

(02-07-2019)

Nifty-Intra Day Chart (01-Jul-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels
2- Consolidation between 11851-11866
3- Up moves in Bearish Rising Channel
4- Mixed Patterns formations in last hour
5- Whole day actual trading between 11831-11884

Conclusions from intra day chart analysis 

As firstly consolidation through Down moves in Bullish Falling Channels and after that consolidation in sideways trading also therefore emergence of rally continuation expectations. Although minor selling at higher levels but Mixed Patterns formations in last hour also therefore some more consolidation is required within and near about today trading range for sustaining above today highest.

It should also be kept in mind that Indian markets completely under performed all the Global markets today and some selling on the back of Global markets led heated sentiments can not be ruled out. As lower levels good consolidation today therefore expected that Nifty will firstly trade and prepare for next decisive up moves within today trading range but expected that finally rally will remain continued after fresh consolidation within today trading range.  

Rally above 12103 and towards 13870.95 after Budget-2019

Technical Analysis,Research & Weekly Outlook

(Jul 01 to Jul 05,2019)

Nifty-EOD Chart Analysis(Waves structure)

Nifty-EOD Chart (28-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Wave 1 gained 2142.90 points
4- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
5- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
6- Wave 3 gained 3866.40 points
7- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
8- Impulsive Wave-5 continuation with new life time top formation at 12103.00 on 03-06-2019
9- Last 29 Sessions sideways trading between 11592-12103

Nifty-EOD Chart Analysis(Modi ji's Victory gap)

Nifty-EOD Chart (28-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 165 Points "Modi ji's Victory gap" supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- Last 29 Sessions sideways trading between 11592-12103

Nifty-Previous 29 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 20 to Jun 28,2019):-

Just click on chart for its enlarged view

Technical Patterns formation in last 29 Sessions intraday charts

1- Buying,selling and mixed Patterns formation in last 29 sessions 
2- 29 Sessions actual trading between 11592-12103 

Nifty-Intra Day Chart Analysis(01-07-2019)

Nifty-Intra Day Chart (28-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channels
2- More than 3 hours trading with Mixed Patterns formation between 11800-11832 
3- Whole day actual trading between 11776-11871

Conclusions from EOD charts analysis 

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11592-12103 for the last 29 Sessions after 165 Points "Modi ji's Victory gap" formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019

Conclusions from 29 Sessions intra day chart analysis 

As first Budget of Modi ji Government 2nd term on 5th July 2019 therefore Indian markets are preparing for post Budget decisive big moves for the last 29 sessions between 11592-12103 after Exit Polls results on 19-05-2019 which is above 165 Points "Modi ji's Victory gap"(11426-11591) that was formed on 20-05-2019.  

Last 29 sessions trading is with lower levels Buying and higher levels selling as well as one sideed technical positions not formations yet therefore Nifty has to trade and prepare for next post Budget decisive moves within 11592-12103 and finally sustaining beyond this range will confirm next big moves.

Conclusions from intra day chart analysis 

Although last Friday closing was near the lower levels of the day but clear selling patterns were not seen and more than 3 hours trading with Mixed Patterns formation developed as well as consolidation took placed through Down moves in Bullish Falling Channels therefore Indian markets will be understood under consolidation process and emergence of rally continuation expectations but after follow up consolidations in the coming week.

Conclusions (After Putting All Studies Together)

As Long and Intermediate Term Trends are still up therefore Indian markets will be understood Bullish and as per following calculations on going Rally will be expected towards 13870.95 in the coming weeks:-

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 gained(3866.40 points).

Impulsive Wave-1 gained=2142.90 points(8968.70-6825.80)
Impulsive Wave-3 gained=3866.40 points(11760.20-7893.80)
Impulsive Wave-5 has gained 1851.60 points till 18-04-2018(11856.15-10004.55) 

As per Elliott Wave theory Wave-5 can gain 3866.40 points from its beginning level(10004.55 )which means that on going Wave-5 has potential to move up to 13870.95(10004.55+3866.40) 

As Short Term Trend is sideways between 11592-12103 for the last 29 Sessions therefore firstly sustaining beyond this range should be watched for next big moves confirmations.

Next supports of Nifty are as follows:-

1- 11642-11727
2- 55-Day SMA(today at 11697) 
3- "Modi ji's Victory gap"(11426-11591)

Next resistances of Nifty are as follows:-

1- 11842-11934
2- 11968-12000
3- 12045-12097

It is confirm that Indian markets are well riped for Post Budget big moves in the last 29 sessions sideways trading between 11592-12103 and its forceful break out will be seen just before or after Buget day(05-07-2019). Although high volatility can not be ruled out in the next Pre-Budget week but expected that:-

1- Nifty will not sustain below 29 sessions lowest(11592) 
2- Nifty will not fill "Modi ji's Victory gap"(11426-11591),means that Nifty will not slip below 11427.

Indian Stock markets reacted surprisingly on following news:-

1- No rally after Modi ji strong victory on 23rd May 2019.
2- Sharp fall after Smt Nirmala Sitaraman announcement as Finance minister on 31-05-2019

Although above surprising negative moves but Indian markets are well matured and have full faith in Modi ji as well as rally will remain continued above 12103 and towards 13870.95 after Budget-2019 but next one more week may remain sideways between 11427-12103 for consolidation and fresh rally preparation.

Firstly watch levels amid fresh rally beginning possibility

Intra Day Chart Analysis & Market Outlook

(28-06-2019)

Nifty-Intra Day Chart (27-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels
2- Sharp falls in last hours
3- Whole day actual trading between 11822-11911

Conclusions from intra day chart analysis 

2nd Resistance range between 11842-11934 was updated 3 times in last 4 sessions outlooks and Nifty closed just below it at 11841.55 today.

Very Short Term correction possibility was told yesterday and it was seen through sharp falls higher levels today. 

As fresh selling at higher levels within above mentioned 2nd resistance range(11842-11934) therefore this resistance range has become stronger but consolidation was seen above 11758 last Wednesday therefore Nifty will have to firstly trade and prepare for next decisive moves between 11758-11934 and that will be done in the coming sessions.

Expected that finally rally will remain continued after fresh consolidation but let it develop and Nifty to sustain above 11758 then fresh rally beginning time frame will be updated. 

Firstly sustaining beyond 11758-11934 should be watched amid fresh rally beginning possibility.

Finally rally after Very Short Term correction

Intra Day Chart Analysis & Market Outlook

(27-06-2019)

Nifty-Intra Day Chart (26-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp up after weaker opening
2- Consolidation through Down moves in Bullish Falling Channels within more then 4 hours sideways trading range
3- Whole day actual trading between 11758-11871

Conclusions from intra day chart analysis 

Although weaker opening but immediately 38 points sharp up and after that consolidation through down moves in Bullish Falling Channels below yesterday mentioned 2nd resistance range(11842-11934) and within more then 4 hours sideways trading range.

As multiple resistances are above 11842 and Very Short Term indicators are bought therefore Very Short Term correction like today weaker opening can not be ruled out but expected that finally rally will remain continued after follow up consolidation in the coming sessions. 

Expectations of sideways correction and consolidation for fresh rally

Intra Day Chart Analysis & Market Outlook

(26-06-2019)

Nifty-Intra Day Chart (25-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 11651-11814

Conclusions from intra day chart analysis 

Following 4 resistance ranges were updated on 22-06-2019 in "Firstly watch levels amid expectations of Rally continuation above life time highest":-

1- 11759-11809(Tested and closed within it today)
2- 11842-11934
3- 11968-12000
4- 12045-12097

As Global markets weakness today morning therefore firstly down moves after weaker opening but getting support at lower levels and after that whole day up moves with intraday corrections as well as today closing within above mentioned 1st resistance range. 

As multiple resistances are above today highest and Very Short Term indicators have also turned over bought after today rally therefore Very Short Term correction can not be ruled out and fresh consolidation is also required for sustaining above resistances. 

As Indian markets out performed all the Global markets also today therefore expected that Nifty will correct in sideways trading and consolidate for fresh rally in the coming sessions. 

Firstly Watch supports range after weaker Global cues led Red opening

Post-open Outlook(25-06-2019)

As most Asian markets are 0.50% to 1.20% weak today morning and Dow Jones Futures is also trading more than 50 points down therefore Indian markets slipped after Red opening today.

As supports of Nifty are lying between 1642-11727 and Nifty is trading within this range today therefore firstly valid break out of this range should be watched because today weakness is Global cues led and intraday consolidation was seen yesterday. 

Emergence of fresh rally beginning expectations

Intra Day Chart Analysis & Market Outlook

(25-06-2019)

Nifty-Intra Day Chart (24-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp fall after positive opening
2- Consolidation between 11688-12715 
3- Down moves in Bullish Falling Channels
4- Whole day actual trading between 11671-11754

Conclusions from intra day chart analysis 

Although firstly sharp fall after positive opening and after that most time negative zone trading also but lower levels good consolidation patterns formations were seen today therefore it seems that Indian markets have statered consolidation process and emergence of fresh rally beginning expectations. 

As good selling at higher levels in the last 24 sessions also therefore follow up consolidation in the coming 2/3 sessions will mean decisive up moves towards and above last Saturday updated next resistances.

List of HERO TO ZERO 60 Stocks

1. Reliance Infra - 2500 > 42.70
2. Rel Capital - 2924 > 62
3. Rel Power - 430 > 4.15
4. R COM - 800 > 1.45
5. R NAVAL - 117 > 3
6. DHFL - 690 > 62.90
7. Jet Airways - 883 > 33
8. Jain Irrigation - 264 > 25
9. PC jewellers - 600 > 45
10. Vakrangee - 515 > 31
11. Suzlon - 400 > 3.35
12. Kwality - 225> 2.45
13. JP Associates - 339 > 2.70
14. JP Power - 140 > 1.90
15. JP Infra - 100 > 1.60
16. manpasand beverages - 500 > 28
17. Central Bank - 210 > 22
18. J&K Bank - 176 > 34.70
19. Mercator - 165 > 1.65
20. Aban offshore - 5400 > 35.40
21. Sintex Plastic Tech - 120 > 8
22. BPL 152 > 21
23. HDIL 1100 > 14.50
24. Videocon 760 > 1.70
25. MTNL 217 > 7.60
26. ILFS 308 > 3.10
27. Cox & King - 367 > 62.70
28. Mcleod Russel - 325 > 18.85
29. Eros Int - 643 > 25.80
30. LEEL Electricals - 340 > 7.30
31. Alok Ind 105 > 3.80
32. Subex 725 > 5.80
33. Adlabs - 207 > 4.05
34. Atlanta - 270 > 9.30
35. IFCI - 114 > 7.65
36. GMR Infra - 124 > 14.80
37. Uttam Galva - 172 > 7.55
38. Oil Country - 172 > 5.90
39. Punj Llyod - 580 > 1.25
40. Lovable lingerie - 612 > 69
41. Shree Renuka Sugar - 120 > 9
42. Patel Eng - 1020 > 18.80
43. RS Software - 400 > 20.75
44. On mobile - 361 > 31.15
45. Windsor machines - 150 > 25.10
46. Bartronics - 255 > 3.90
47. Rolta - 375 > 5.45
48. kohinoor food - 136 > 16.30
49. Dolphin offshore - 445 > 29.40
50. Snowman logist - 130 > 29.50
51. IRB INFRA 310 > 93
52. HEG 4500 > 1320
53. Varroc Engineers 1151 > 450
54. Goa Carbon 1185 > 340
55. Hotel leela 85 > 7.55
56. Vodafone Idea 118 > 11.35
57. Educomp 1100 > 1.50
58. VIP Clothing 100 > 11.70
59. Gati 290 > 57
60. GTPL 180 > 58

-------------------------------------

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HMT (घडी)
BAJAJ (स्कूटर)
DYNORA (टीवी)
MURPHY (रेडियो)
NOKIA (मोबाइल)
RAJDOOT (बाईक)
AMBASDOR (कार)

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समय के साथ बदलने की तैयारी करें।

इसलिए..
व्यक्ति को समयानुसार अपने व्यापार एवं अपने स्वभाव में भी बदलाव करते रहना चाहिये।

"Time to Time Update & Upgrade"

समयके साथ चलिये और सफलता पाईये ।

Firstly watch levels amid expectations of Rally continuation above life time highest

Technical Analysis,Research & Weekly Outlook

(Jun 24 to Jun 28,2019)

Nifty-EOD Chart Analysis(Modi ji's Victory gap)

Nifty-EOD Chart (21-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 165 Points "Modi ji's Victory gap" supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- Last 24 Sessions sideways trading between 11592-12103

Nifty-Previous 24 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 20 to Jun 24,2019):-

Just click on chart for its enlarged view

Technical Patterns formation in last 24 Sessions intraday charts

1- Buying,selling and mixed Patterns formation in last 24 sessions 
2- 24 Sessions actual trading between 11592-12103 

Nifty-Intra Day Chart Analysis((21-06-2019)

Nifty-Intra Day Chart (21-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between -11759-11809(Immediate Resistances)
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 11705-11827

Conclusions from EOD chart analysis

 Short Term Trend is sideways between 11592-12103 for the last 24 Sessions 

Conclusions from 24 Sessions intra day chart analysis 

As last 24 sessions trading between 11592-12103 with lower levels Buying and higher levels selling as well as one sideed technical positions not formations yet therefore Nifty has to trade and prepare for next decisive moves within this range and finally sustaining beyond this range will confirm big moves.

Conclusions from intra day chart analysis 

As firstly more than 4 hours selling in sideways trading range and after that up moves from lower levels in Bearish Rising Channel therefore last Friday trading will be understood from selling patterns formation and firstly some down moves are expected in the beginning of next week.

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 11592-12103 for the last 24 Sessions 

Although Short Term Trend is sideways between 11592-12103 but Intermediate Term Trend decider (55-Day SMA is today at 11684) is at at stake because Nifty is hovering around 11684 for the last 5 sessions and finally sustaining it beyond will confirmation of Intermediate Term Trend which will means its continuation from 3 weeks to 3 months.

As high expectations from Modi's Government therefore Nifty opened gap up by 165 points on 20-05-2019 after strong signals of Modi ji victory from exit Polls results on 19-05-2019. Until these expectations are alive till then this gap(11426-11591) will not be filled up and rally will remain continued without slipping below 11427 despite whatsoever negative news and sentiments from national and international forums.

Next supports of Nifty are as follows:-

1- 1642-11727
2- 55-Day SMA(today at 11684) 
3- "Modi ji's Victory gap"(11426-11591)

Next resistances of Nifty are as follows:-

1- 11759-11809
2- 11842-11934
3- 11968-12000
4- 12045-12097

Indian Stock markets reacted surprisingly on following news:-

1- No rally after Modi ji strong victory on 23rd May 2019.
2- Sharp fall after Smt Nirmala Sitaraman announcement as Finance minister on 31-05-2019

As above reactions and Nifty has turned sideway in the last 24 sessions between 11592-12103 as well as Union Budget on 05-07-2019 therefore expected that Indian markets will finally react on Budget and till then may remain sideways between 11427-12103 and finally sustaining beyond this range will confirm more than 10% move.As Short Term correction is on and and Volatility may remain high on Budget day or before also therefore lowest level of 23rd May 2019 gap(11427) has been updated.

Although supports,resistances and all the crucial levels have been updated above and should be firstly watched also but expected that finally rally will remain continued above life time highest(12103) after follow up consolidation within last 24 sessions trading range(11592-12103).

Next resistance range will confirm life of on going correction completion

Intra Day Chart Analysis & Market Outlook

(21-06-2019)

Nifty-Intra Day Chart (20-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 11636-11843

Conclusions from intra day chart analysis 

Although firstly down moves after weaker opening but getting support at lower levels and after that whole day up moves with intraday corrections because following positive cues from Global markets:-

1- All the Asian markets were in Green and some were more than .50% up.
2- All the European markets opened strong.
3- Dow's Futures recovered more than 140 points and was trading more than 200 points up at the time of Indian markets closing.

As today Pull Back Rally was Global markets led and closing was just below yesterday mentioned next 2nd resistance range(11842-11882) therefore firstly sustaining above it should be watched for the life of on going correction completion.

Firstly Watch levels for next Trend confirmations

Intra Day Chart Analysis & Market Outlook

(20-06-2019)

Nifty-Intra Day Chart (19-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 11772-11802(Immediate resistance)
2- Down moves in Bullish Falling Channels
3- Up moves in Bearish Rising Channel
4- Volatility in last 4 hours
5- Whole day actual trading between 11626-11802

Conclusions from intra day chart analysis

As some consolidation at lower levels yesterday and all the Global markets were blasting today morning therefore firstly up moves after Green opening but fresh selling developed and after that 176 points like big down moves were seen.

Although flat closing but Indian markets completely under performed all the Global markets and volatility with both condolidation and selling patterns were also seen in last 4 hours therefore no final conclusion can be formed only from today intraday patterns formations and following levels will be watched:-

1- 1st support range 55-Day SMA(today at 11670)
2- 2nd support range "Modi ji's Victory gap"(11426-11591) support which was formed on 20-05-2019 after Exit Polls results on 19-05-2019
3- 1st resistance range(11772-11802}
4- 2nd resistance range(11842-11882)

As following surprising Stock markets reactions on different news and Union Budget on 05-07-2019 therefore firstly watch sustaining beyond above levels for the life of on going correction and next trend formation:-

1- No rally after Modi ji strong victory on 23rd May 2019.
2- Sharp fall after Smt Nirmala Sitaraman announcemet as Finance menister on 31-05-2019
3- Fresh selling in Indian markets despite blasting Global markets today.

Up moves expectations towards next resistance range

Intra Day Chart Analysis & Market Outlook

(19-06-2019)

Nifty-Intra Day Chart (18-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Lower levels consolidations after sharp falls
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 11642-11727

Conclusions from intra day chart analysis 

Although higher levels minor selling but lower levels good consolidation was also seen today therefore some up moves are expected tomorrow towards next resistance range(11842-11882) and finally sustaining beyond this resistance range will confirm life of on going correction. 

Finally 11670-11770 will confirm next trend

Intra Day Chart Analysis & Market Outlook

(18-06-2019)

Nifty-Intra Day Chart (17-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Slipping 67 points in first 6 minutes after positive opening.
2- Whole day continuous down moves and closing near lower levels of the day.
3- Whole day actual trading between 11658-11844

Conclusions from intra day chart analysis 

Although positive opening but Nifty slipped 67 points in first 6 minutes and whole day only down moves with closing near the lowest levels of the day.

As Nifty slipped and closed below 14 sessions lowest(11770) therefore Short Term Trend turning down confirmation. Nifty tested 55-Day SMA(today at 11670) also and finally sustaining it beyond will confirm the life of Mid Term Trend.

As Short Term indicators have turned oversold therefore a Pull Back rally can not be ruled out any day but until Nifty will not sustain above 11770 till then correction completion will not be considered and finally 11670-11770 will confirm next trend which should be watched tomorrow.

Finally Rally continuation above life time highest after fresh consolidation

Technical Analysis,Research & Weekly Outlook

(Jun 17 to Jun 21,2019)

Nifty-EOD Chart Analysis(Waves structure)

Nifty-EOD Chart (14-Jun-2019):-

Just click on chart for its enlarged view

Nifty-EOD Chart Analysis(Modi ji's Victory gap)

Nifty-EOD Chart (14-Jun-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Corrective  Wave 2 beginning after Wave 1 completion at 8968.70 on 07-09-2016
3- Impulsive Wave 3 beginning after Corrective Wave-2 completion at 7893.80 on 26-12-2016
4- Corrective  Wave 4 beginning after Wave 3 completion at 11760.20 on 28-08-2018 
5- Impulsive Wave 5 beginning after Corrective Wave-4 completion at 10004.55 on 26-10-2018
6- Impulsive Wave-5 continuation with new life time top formation at 12103.00 on 03-06-2019
7- 165 Points "Modi ji's Victory gap" supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
8- Last 19 Sessions sideways trading between 11592-12103
9- Last 14 Sessions sideways trading between 11770-12103

Nifty-Previous 14 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 27  to Jun 14,2019):-

Just click on chart for its enlarged view

Technical Patterns formation in last 14 Sessions intraday charts

1- Crucial supports are at 11808
2- 14 sessions bottom at 11770
3- 14 sessions top at 12103 
4- Buying,selling and mixed Patterns formation above 11808 in last 14 sessions 
5- 14 Sessions trading between 11770-12103 

Nifty-Intra Day Chart Analysis(14-06-2019)

Nifty-Intra Day Chart (14-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Firstly fast slipping after flat opening
2- Mixed Patterns formation between 11842-11882
3- Sharp fall in last half hour
4- Whole day actual trading between 11798-11911

Conclusions from EOD chart analysis

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11592-12103 for the last 19 Sessions

Conclusions from 14 Sessions intra day chart analysis 

Last 14 sessions most time trading above 11808 with all Buying,selling and mixed Patterns formation and Nifty slipped below it last Friday but closed above it without slipping below 14 sessions bottom(11770) therefore finally sustaining below following 2 levels should be watched in next week for deeper correction beginning towards 11592 confirmations:-

1- 11808
2- 11770

Conclusions from intra day chart analysis 

As all the Asian markets were in Red therefore firstly fast slipping after flat opening and Sharp fall in last half hour also but more than 5 hours trading with Mixed Patterns formation between 11842-11882 and genuine selling patterns formations were not seen therefore firstly sustaining below 11842 should be watched in the beginning of next week for decisive down moves confirmations.

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are up and Short Term Trend is sideways between 11592-12103 for the last 19 Sessions because Indian markets are preparing for next big moves within this range after 165 Points "Modi ji's Victory gap"(11426-11591) formation on 20-05-2019.

As last 14 sessions most time trading was above 11808 and Nifty slipped below it last Friday also but Mixed Patterns formation was seen above it and clear selling patterns were not seen therefore firstly sustaining beyond 11808  should be firstly watched in next week for fresh rally after on going correction completion or correction continuation towards 11592. 

As Budget for the current financial year(2019-20) will be presented in the Lok Sabha on July 5th and Finance Minister Nirmala Sitharaman capacities are not known yet therefore Indian markets may wait and prepare for post Budget decisive moves in the coming weeks.

It is confirm that Budget will fulfil Growth policies of Modi ji and finally rally will remain continued above life time highest(12103) after fresh consolidation between 11592-12103 in the coming weeks. 

Watch levels for next trend confirmations amid some up moves possibilities 

Intra Day Chart Analysis & Market Outlook

(14-06-2019)

Nifty-Intra Day Chart (13-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 11818-11865
3- Last hour Up moves in Bearish Rising Channel
4- Whole day actual trading between 11818-11931

Conclusions from intra day chart analysis 

As last 13 sessions most time trading is within 200 points between 11808-11934 therefore supports above 11808 has been updated many times in previous outlooks and Nifty got supports just above it at 11818 today.

Although lower levels consolidation today but some selling was also seen in last hour through Up moves in Bearish Rising Channel therefore more follow up consolidation is firstly required tomorrow for sustaining above today highest(11931)  

As lower levels consolidation today therefore supports above 11808 has been strengthen and follow up consolidation in the coming sessions will mean rally beginning towards and above next resistances(11968-12000)

As lower levels supports and higher levels resistances between 11808-12000 therefore Nifty will firstly trade and prepare for next trend within this range and finally sustaining it beyond should be watched for next trend confirmations amid some up moves possibilities after lower levels consolidation today.

Next trend confirmation from
 levels only

Intra Day Chart Analysis & Market Outlook

(13-06-2019)

Nifty-Intra Day Chart (12-Jun-2019):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 11914-11934(Immediate resistance)
2- Slow up moves
3- Volatility in last hours between 11867-11920
4- Whole day actual trading between 11867-11934

Conclusions from intra day chart analysis 

Although flat opening but Nifty slipped 30 points within few seconds after opening and whole day actual trading was seen between 11867-11934 with higher levels selling and last hours volatility. 

Following lines were told on 10-06-2019 in "Firstly watch levels for next decisive moves confirmations":-

11808-11910 will be immediate supports of Nifty

Nifty traded more than 5 hours today within above mentioned supports range(11808-11910) with intraday volatility and fresh selling above it. As intraday technical positions reverses in volatility also therefore no final view can be formed only from today intraday patterns formations and next trend formations will be decided from valid break out following levels:-

1- 11808-11934(Upper trend 1st indication will be from 11934)
2- 11808-12000(Upper trend 2nd indication will be from 12000)

It must be kept in mind that most crucial sopports below 11808 are as follows:-

1- 11645-11730 
2- 11426-11591(Modi ji's victory Gap)