Minimum 10% rally after huge victory of BJP & NDA
Technical Analysis,Research & Weekly Outlook
(May 27 to May 31,2019)
Nifty-EOD Chart Analysis(Waves structure)
Nifty-EOD Chart (24-May-2019):-
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Nifty-EOD Chart Analysis(Gap support)
Nifty-EOD Chart (24-May-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 12041.10 on 23-05-2019
7- Last 5 Sessions sideways trading between 11602-12041
8- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
Technical Patterns formation in last 6 Sessions intraday charts
1- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
1- Whole day up moves with intraday corrections on 20-05-2019
2- Mixed Patterns formation between 11815-11883 on 21-05-2019
3- Consolidation and volatility on 22-05-2019
4- All the Down moves in Bullish Falling Channels on 23-05-2019
5- Whole day up moves with intraday corrections on 24-05-2019
6- 5 Sessions actual trading between 11600-12041
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11659-11859
1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11602-12041 for the last 5 Sessions
Rally is very much on and no signal of its completion yet because selling patterns have not developed yet on intraday and daily charts.
As huge 165 points gap formed between 11426-11591 on 20-05-2019 therefore this range will be immediate strong support of Nifty.
As Modi ji's strong Govt possibility emerged in Exit polls on 19-05-2019 therefore strong 165 points gap(11426-11591) up opening on 20-05-2019 and whole week sustaining above 11426 means that this gap will not be easily filled up and strong rally will remain continued above it.
Although Mixed Patterns formation between 11815-11883 on 21-05-2019 and previous week closing between it at 11844.10 but good consolidation between 11600-12041 in previous week therefore finally rally continuation above 12041 is expected in the coming weeks.
Although firstly slipping after strong opening but down moves were in Bullish Falling Channels therefore upmoves started and closing was near the higher levels of the day.
As whole day up moves were with continuous intraday corrections and no intraday selling patterns formation therefore on going rally continuation is expected in the coming sessions.
We are not telling only today for "Minimum 10% rally after huge victory of BJP & NDA" but we predicted this line again and again from 13-04-2019, its live proofs are as follows:-
Following lines were told on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019":-
Above topic of 350 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial News Papers "THE ECONOMIC REVOLUTION(15-04-2019 TO 21-04-2019" also. For live proofs pictures of above topic as also being posted as follows:-
1- English News Paper:-
2- Gujarati News Paper:-
As heavy rigging and violence by TMC in West Bengal during elections therefore we reduced a little our election results projections for NDA and told following lines on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-
It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-
1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.
(Just click at above topic link and go through whole topic)
Above topic with 290 seats victory for BJP and 340 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial news papers "THE ECONOMIC REVOLUTION(20-05-2019 TO 24-05-2019" also. For live proofs pictures of above topic as also being posted as follows:-
1- English News Paper
2- Gujarati News Paper
Long and Intermediate Term Trends are up but Short Term Trend has turned sideways between 11602-12041 for the last 5 Sessions after Exit Pools and Parliamentary Election results. As sentiment has turned heated due to big victory of BJP and NDA therefore Indian markets will firstly remain sideways for cooling down and prepare for more than 10% rally.
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 12041.10 on 23-05-2019
7- Last 5 Sessions sideways trading between 11602-12041
8- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
Nifty-Previous 6 Sessions intraday charts analysis
Nifty-Intra Day Chart (May 17 to May 24,2019):- |
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1- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
1- Whole day up moves with intraday corrections on 20-05-2019
2- Mixed Patterns formation between 11815-11883 on 21-05-2019
3- Consolidation and volatility on 22-05-2019
4- All the Down moves in Bullish Falling Channels on 23-05-2019
5- Whole day up moves with intraday corrections on 24-05-2019
6- 5 Sessions actual trading between 11600-12041
Nifty-Intra Day Chart Analysis(24-05-2019)
Nifty-Intra Day Chart (24-May-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 11659-11859
Conclusions from EOD chart analysis
1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11602-12041 for the last 5 Sessions
Rally is very much on and no signal of its completion yet because selling patterns have not developed yet on intraday and daily charts.
As huge 165 points gap formed between 11426-11591 on 20-05-2019 therefore this range will be immediate strong support of Nifty.
Conclusions from 6 Sessions intra day chart analysis
As Modi ji's strong Govt possibility emerged in Exit polls on 19-05-2019 therefore strong 165 points gap(11426-11591) up opening on 20-05-2019 and whole week sustaining above 11426 means that this gap will not be easily filled up and strong rally will remain continued above it.
Although Mixed Patterns formation between 11815-11883 on 21-05-2019 and previous week closing between it at 11844.10 but good consolidation between 11600-12041 in previous week therefore finally rally continuation above 12041 is expected in the coming weeks.
Conclusions from intra day chart analysis
Although firstly slipping after strong opening but down moves were in Bullish Falling Channels therefore upmoves started and closing was near the higher levels of the day.
As whole day up moves were with continuous intraday corrections and no intraday selling patterns formation therefore on going rally continuation is expected in the coming sessions.
Conclusions (After Putting All Studies Together)
We are not telling only today for "Minimum 10% rally after huge victory of BJP & NDA" but we predicted this line again and again from 13-04-2019, its live proofs are as follows:-
Following lines were told on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019":-
we are expecting more than 350 seats victory for NDA and resultant minimum 10% rally will be seen after Election results declaration day(23-05-2019) but fresh rally will begin before this date also.
(Just click at above topic link and go through whole topic)
Above topic of 350 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial News Papers "THE ECONOMIC REVOLUTION(15-04-2019 TO 21-04-2019" also. For live proofs pictures of above topic as also being posted as follows:-
1- English News Paper:-
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| Just click on chart for its enlarged view |
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| Just click on chart for its enlarged view |
As was told 100% same happened and NDA won 353 on 23-05-2019 as well as fresh rally begun before this date on 21-05-2019 with new life time highest formation at 11883.50.
As heavy rigging and violence by TMC in West Bengal during elections therefore we reduced a little our election results projections for NDA and told following lines on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-
It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-
1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.
(Just click at above topic link and go through whole topic)
Above topic with 290 seats victory for BJP and 340 seats victory for NDA predictions was posted in Weekly English and Gujarati Financial news papers "THE ECONOMIC REVOLUTION(20-05-2019 TO 24-05-2019" also. For live proofs pictures of above topic as also being posted as follows:-
1- English News Paper
 |
| Just click on chart for its enlarged view |
 |
| Just click on chart for its enlarged view |
 |
| Just click on chart for its enlarged view |
 |
| Just click on chart for its enlarged view |
Expected that finally 10% rally will begin and remain continued above 12000 after follow up consolidation in the coming sessions/weeks.