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):-

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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):-

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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):-

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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):-

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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):-

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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) 

Levels will confirm next trend

Intra Day Chart Analysis & Market Outlook

(12-06-2019)

Nifty-Intra Day Chart (11-Jun-2019):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling ChannelS
2- Slow up moves in Mid-Session
3- Selling between 11968-12000
4- Whole day actual trading between 11905-12000

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Firstly watch levels for next decisive moves confirmations":-

1- 11808-11910 will be immediate supports of Nifty and until Nifty will not sustain below 11808 till then decisive down moves will not be seen.
2- higher levels selling was also seen below 11975 
3- Nifty has to trade and prepare for next decisive moves within  11808-11975 and firstly sustaining beyond this range should be watched in the coming sessions for next decisive moves confirmations. 

Although firstly lower levels consolidation but higher levels good selling was also seen therefore today trading will be understood with Mixed Patterns formation and same view with little change of levels that finally sustaining beyond 11808-11200 will confirm next trend which should be firstly watched in the coming sessions. 

Firstly watch levels for next decisive moves confirmations 

Intra Day Chart Analysis & Market Outlook

(11-06-2019)

Nifty-Intra Day Chart (10-Jun-2019):-

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Technical Patterns formation in today intraday charts
1- Selling between 11934-11975(immediate resistance)
2- Consolidation between 11872-11910
3- Whole day actual trading between 11872-11975

Conclusions from intra day chart analysis 

As good intraday consolidation last Friday and all the Asian markets were blasting as well as Dow Jones'S Futures was also more than 70 points up today morning therefore good up moves after positive opening but selling developed at higher levels and Nifty slipped from higher levels.

6 Hours consolidation Patterns formation between 11808-11897 last Friday and more than 3 hours consolidation within and above this range today also therefore 11808-11910 will be immediate supports of Nifty and until Nifty will not sustain below 11808 till then decisive down moves will not be seen.

Although positive closing today but Indian markets completely under performed Global markets and higher levels selling was also seen below 11975 therefore Nifty has to trade and prepare for next decisive moves within  11808-11975 and firstly sustaining beyond this range should be watched in the coming sessions for next decisive moves confirmations.   

Rally continuation above life time highest without sustaining below

 "Modi ji's victory Gap(11426-11591)"  

Technical Analysis,Research & Weekly Outlook

(Jun 10 to Jun 14,2019)

Nifty-EOD Chart Analysis

"Modi ji's gap"

Nifty-EOD Chart (07-Jun-2019):-

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Technical Patterns and Formations in EOD charts

1- 165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- 165 Points was formed on the "high expectations like Bullet Trains recovery of Indian economy" after Modi ji's victory in 2019 Parliamentary elections therefore this gap will be told "Modi ji's gap"

Nifty-EOD Chart Analysis

Nifty-EOD Chart (07-Jun-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave 5 beginning from 10004.55 on 26-10-2018
2- Strong 165 points gap support formations between 11426-11591 on 20-05-2019
3- Last 14 sesions trading with both buying and selling after 165 points gap formations on 20-05-2019

Nifty-Previous 14 Sessions intraday charts analysis

Nifty-Intra Day Chart (May 20 to Jun 07,2019):-

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Technical Patterns formation in last 14 Sessions intraday charts

1- 165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019
2- Last supports of 14 sessions range are between 11645-11730
3- Crucial supports are at 11829.50
4- Both buying and selling above 11829.50 in last 11 sessions 
5- Consolidation between 11808-11897 on 07-06-2019 
6- 14 Sessions actual trading between 11592-12103 

Nifty-Intra Day Chart Analysis(07-06-2019)

Nifty-Intra Day Chart (07-Jun-2019):-

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Technical Patterns formation in today intraday charts

1- 6 Hours consolidation Patterns formation between 11808-11897
2- Whole day actual trading between 11770-11897 

Conclusions (After Putting All Studies Together)

It must be kept in mind that 165 Points like big gap between 11426-11591 was formed on 20-05-2019 after Exit Polls results on 19-05-2019. As this gap was formed on the "high expectations like Bullet Trains recovery of Indian economy" after Modi ji's victory in 2019 Parliamentary elections therefore this gap will be told:- 

"Modi ji's victory Gap" 

formation on 20-05-2019 and until these expections are alive till then Nifty will not sustain below 11591 and rally will remain contunued with new life time highs formations after fresh and follow up higher levels consolidations and corrections in the coming years.

1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend is sideways between 11592-12103 for the last 14 Sessions

165 Points strong gap supports formations between 11426-11591 on 20-05-2019 after Exit Polls results on 19-05-2019 and after that Nifty is trading sideways between 11592-12103 for the last 14 Sessions. Although continuously supports getting above 11591 but Nifty is failing to sustain above 12000 also after fresh selling developments near about it in the last 11 sessions.

As Nifty is getting supports with rising bottoms after good consolidation between 11645-11730 and follow up consolidation also near crucial supports (11829.50) between 11808-11897 last Friday therefore fresh rally hopes above life time highest is alive but follow up consolidation is also required because multiple selling was also seen near about 12000.

As 6 Hours good consolidation between 11808-11897 last Friday therefore fresh up moves will be seen in the beginning of next week but sustaining above 12000 should also be firstly watched because selling was seen there and fresh consolidation is also required for sustaining above 12000.

Final budget for the current financial year(2019-20) will be presented in the Lok Sabha on July 5 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 but as per our views Budget will be good and rally will remain continued above life time highest without sustaining below 
"Modi ji's victory Gap(11426-11591)"