Short Term correction towards next supports amid Sideways market turning expectations

Technical Analysis,Research & Weekly Outlook

(Sep 20 to Sep 24,2021)

Nifty-EOD Chart Analysis

(Waves structure)

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

Technical Patterns and Formations in EOD charts

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

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

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

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

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

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

Conclusions from EOD chart

analysis(Waves structure)

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

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

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

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

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

4- Stochastic is showing negative divergence.

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

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

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

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

Nifty-Intra Day Chart Analysis

(17-Sep-2021)

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

Technical Patterns formation in today intraday charts

1- Selling between 17739-17792

2- Selling between 17611-17659

3- Whole day actual trading between 17538-17792

Conclusions from intra day chart analysis 

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

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

Conclusions

(After Putting All Studies Together)

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

1- 17528-17547

2- 17445-17463

3- 17370-17394

4- 17280-17305

5- 17213-17270 

Immediate Resistances of Nifty are as follows:-

1- 17739-17792

2- 17611-17659

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

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

 परम आदरणीय नरेन्द्र मोदी जी को 

जन्मदिन की हार्दिक शुभकामनाएं

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

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

अर्थात 

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

 Rally continuation after Very Short 

Term/intrday correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(17-09-2021)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17511-17644

Conclusions from intra day chart analysis 

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

 Rally continuation expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-09-2021)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17387-17532

Conclusions from intra day chart analysis 

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

 Levels will confirm next one sided moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(15-09-2021)

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

Technical Patterns formation in today intraday charts

1- Selling between 17415-17438

2- Sharp fall

3- Selling between 17391-17405

4- Whole day actual trading between 17367-17438

Conclusions from intra day chart analysis 

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

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

1- Selling are as follows:- 

A- 17339-17379 

B- 17394-17436 

2- Supports are as follows:-

A- 17213-17270 

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

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

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

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

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

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

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

Technical Analysis,Research & Weekly 

Outlook(Sep 13 to Sep 17,2021)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

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

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

4- Stochastic is showing negative divergence.

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

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

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

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

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

Nifty-Last 5 Sessions

intraday charts analysis

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

Technical Patterns formation in last 5 Sessions intraday charts

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

A- 17339-17379 

B- 17394-17436 

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

A- 17213-17270 

3- 5 Sessions actual trading between 17213-17436 

Conclusions from 5 Sessions

intra day chart analysis 

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

Nifty-Intra Day Chart

Analysis(09-Sep-2021)

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

Technical Patterns formation in today intraday charts

1- Lower levels supports

2- Selling between 17341-17368

3- Selling between 17339-17353

4- Down moves in Bullish Falling Channel

5- Sharp up

6- Selling between 17364-17379

7- Whole day actual trading between 17303-17379

Conclusions from intra day chart analysis 

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

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

Conclusions

(After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

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

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

1- Last 5 sessions sideways between 17213-17436.

2- Intraday selling patterns formation in last 4 sessions.

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

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

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

Levels will confirm sharp fall 

after follow up selling

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-09-2021)

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

Technical Patterns formation in today intraday charts

1- First 3 hours selling between 17350-17373

2- Sharp fall in Mid-session

3- Slow up moves in last hours

4- Whole day actual trading between 17255-17383

Conclusions from intra day chart analysis 

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

 Firstly watch today trading range for next Short Term trend confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-09-2021)

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

Technical Patterns formation in today intraday charts

1- 114 Points fall in first hour

2- 149 Points recovery in Mid-session

3- 90 Points down in last 3 hours

4- Whole day actual trading between 17287-17436

Conclusions from intra day chart analysis 

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

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

 Today lowest will confirm 

Short Term correction 

Nifty-Intra Day Chart Analysis & 

Market Outlook(07-09-2021)

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

Technical Patterns formation in today intraday charts

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

2- Whole day actual trading between 17346-17429

Conclusions from intra day chart analysis 

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

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

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

Technical Analysis,Research & Weekly Outlook

(Sep 06 to Sep 09,2021)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

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

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

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

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

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

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

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

Nifty-Intra Day Chart Analysis

(03-Sep-2021)

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

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Up moves with downward corrections

3- Whole day actual trading between 17213-17340

Conclusions from intra day chart analysis 

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

Conclusions

(After Putting All Studies Together)

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

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

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

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

 Rally continuation with some selling possibility at intraday higher levels

Nifty-Intra Day Chart Analysis & 

Market Outlook(03-09-2021)

Nifty-Intra Day Chart (02-Sep-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 17060-17245

Conclusions from intra day chart analysis 

As good intraday selling yesterday therefore consolidation was required for decisive up moves and it was done through continuous whole day up moves with downward corrections and closing was at life time highest after new life time top formation.

No intraday selling pattern formation today as well as no resistance above today highest also therefore rally will remain continued. Let intraday selling patterns develop then correction will be considered on daily basis according to size and periods of selling patterns formations.

As sentiment turned heated after today strong rally therefore some selling may be seen at intraday higher levels and volatility will also remain high tomorrow.

 Sideways between 16849-17225 

for next decisive moves preparation

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-09-2021)

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

Technical Patterns formation in today intraday charts

1- Selling between 17171-17225 (immediate Resistances)

2- Selling between 17097-17144 (immediate Resistances)

3- Whole day actual trading between 17056-17225

Conclusions from intra day chart analysis 

Following conclusive lines were told yesterday in "Rally after little deeper correction":-

Short Term correction may be little deeper than today and towards following supports:- 

1- 17042-17067

2- 16916-16994

3- 16849-16876

As was told 100% same happened and correction remain continued upto yesterday mentioned 1st supports range(17042-17067) with today lowest within it at 17,055.05 and today closing just above it at 17076.25.

As lower levels above mentioned supports and fresh resistances developed within above mentioned 2 selling ranges today therefore Nifty will remain sideways between 16849-17225 in the coming sessions and prepare for next decisive moves. 

Let fresh intraday technical patterns develop then Outlook will formed accordingly and till then Nifty will roll between above mentioned supports and resistances.

 Rally after little deeper correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-09-2021)

Nifty-Intra Day Chart (31-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Short Term sideways correction and consolidation between 16916-16994

2- Last 4 hours moves with downward corrections

3- Whole day actual trading between 16916-17153

Conclusions from intra day chart analysis 

As firstly consolidation after Short Term sideways correction therefore rally continuation till last minutes and closing at the top of the day.

Only consolidation and no intraday selling patterns formations today therefore rally will remain continued. As sentiment has tuned too much heated therefore intraday and Short Term correction may be little deeper than today and towards following supports:- 

1- 17042-17067

2- 16916-16994

3- 16849-16876

Rally after Short Term correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(31-08-2021)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 16764-16951

Conclusions from intra day chart analysis 

As whole day up moves with downward corrections after gap up opening and intraday selling patterns were not seen therefore rally will remain continued but Short Term indicators have turned overbought hence firstly Short Term correction may be seen which may be sideways also.

 Rally continuation amid only 

Short Term correction signals

Technical Analysis,Research & Weekly Outlook

(Aug 30 to Sep 03,2021)

Nifty & Bank Nifty Weekly Outlook

(Aug 30 to Sep 03,2021)

Nifty-EOD Chart (27-Aug-2021):-

Technical Patterns and Formations in EOD charts

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

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

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

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

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

6- Impulsive Wave-5 continuation with recent high and new life time top formation at 16722.00 on 27-08-2021

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-5 continuation with recent high and new life time top formation at 16722.00 on 27-08-2021. As last Friday closing was above last 10 sessions trading range and no indication of impulsive Wave-5  completion on EOD charts yet therefore its continuation above life time top(16722) is expected in next week.

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (27-Aug-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 16722.00 on 27-08-2021

2- Stochastic- %K(5) is at 83.08 & %D(3) is at 74.45

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

4- Stochastic is showing negative divergence.

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

6- In MACD- MACD line  has flattened and Average line is rising in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

Although Stochastic is showing negative divergence but its both lines are rising within and towards Over bought zone and has not been completely Over bought yet as well as %K(5) line has not intersected %D(3) line downward therefore indications of some more up moves which will be firstly seen in the beginning of next week. As %K(5) is completely Overbought and & %D(3) is just below Overbought zone therefore cautious approach is required because this indicator will be completely Overbought after some more up moves and start to give selling signals also.  

In MACD indicator MACD line  has intersected Average line upward. Although Average line is rising in positive zone but it  has flattened therefore indicating that Downward trend may begin in Short term hence Bulls should remain cautious.'

Nifty-Last 10 Sessions intraday 

charts analysis

Nifty-Intra Day Chart (Aug 13 to Aug 27,2021):-

Technical Patterns formation in last 10 Sessions intraday charts

1- Selling(Resistances) in last 10 Sessions are as follows:-

A- 16661-16701

B- 16631-16652(Minor resistances)  

2- Consolidation(Supports) in last 10 Sessions are as follows:-

A- 16674-16722

B- 16625-16642(Minor support)

C- 15527-15542

D- 15509-15526

E- 15407-15465 

3- Last 10 Sessions actual trading between 16376-16722 

Conclusions from 10 Sessions 

intra day chart analysis 

As lower levels good supports and higher levels equally good resistances were seen in previous 9 sessions before last Friday therefore almost whole day up moves were with consolidation through downward corrections and closing was near the top of the day and at life time highest also.

Although firstly up moves will be seen in the beginning of next week but strong resistances were below 16701 and sustaining above it should also watched for rally continuation.

Nifty-Intra Day Chart Analysis & 

Market Outlook(30-08-2021)

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

Technical Patterns formation in today intraday charts

1- 76 Points sharp fall below 16600 after flat opening in first 15 minutes

2- Up moves with downward corrections

3- Last 4 hours slow up moves with downward corrections between 16674-16722

4- Whole day actual trading between 16565-16722

Conclusions from intra day chart analysis 

As good selling above 16631 in last 6 sessions therefore firstly 76 Points sharp fall below 16600 last Friday but consolidation started through Up moves with downward corrections which remained continued till last hour. 

Strong resistances were between 16661-16701 and fresh consolidation was required for decisive up moves therefore last 4 hours up moves between 16674-16722 were slow and with downward corrections and last Friday closing was at life time highest after new life time top formation. 

As whole day good intraday consolidation last Friday therefore firstly up moves above last Friday(16722) will be seen in the beginning of next week.

Conclusions

(After Putting All Studies Together)

All the trends are up,Bullish rally continuation and no indication of rally completion on EOD and intraday charts yet therefore rally continuation is expected in the beginning of next week. 

As indicators are showing that Short Term correction is on cards and good resistances were below 16701 therefore fresh consolidation is also required near about it for sustaining above it.

Although rally continuation but Short Term indicators are showing only Short Term correction signals therefore it may be seen if fresh selling patterns develops on intraday and EOD charts.

Short Term correction below 16600

Nifty-Intra Day Chart Analysis & 

Market Outlook(27-08-2021)

Nifty-Intra Day Chart (26-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 16650-16683

2- Selling between 16631-16652

3- Whole day actual trading between 16604-16683

Conclusions from intra day chart analysis 

Previous resistances were between 16661-16701 and fresh selling was seen within this range today also therefore expected that Short Term correction will be seen below 16600 in the coming sessions.

 Short Term correction expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(26-08-2021)

Nifty-Intra Day Chart (25-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 16661-16695

2- Support between 16625-16642

3- Whole day actual trading between 16618-16712

Conclusions from intra day chart analysis 

Selling was seen between 16661-16701 on 26-08-2021 and follow up selling developed within this range between 16661-16695 today also therefore closing was near lower levels of the day after slipping from higher levels.

As some support in last hour between 16625-16642 therefore some up moves can not be ruled out towards 16700 but expected that finally Short Term correction will be seen below today lowest 16618.

  As busy therefore Stock Market Outlook of today(25-08-2021) is not being updated but tomorrow(26-08-2021) Outlook will be posted positively.

  As still out of station therefore Stock Market Outlook of today(24-08-2021) is not being updated.

 As out of station therefore Stock Market Outlook of today(23-08-2021) is not being updated.