Firstly watch Levels for the next 5% decisive moves

Technical Analysis,Research & Weekly Outlook

(Sep 03 to Sep 06,2019)

Nifty-EOD Chart Analysis(Corrective Waves)

Nifty-EOD Chart (30-Aug-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after life time top formation at 12103.00 on 03-06-2019 and corrective Wave-A of "ABC" correction beginning
2- Corrective Wave-A continuation with recent bottom formation at 10637.15 on 23-08-2019
3- 21 Sessions sideways trading between 10638-11181

Nifty-Last 21 Sessions intraday charts analysis

Nifty-Intra Day Chart (Jul 31 to Aug 30,2019):-

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Technical Patterns formation in last 21 Sessions intraday charts

1- Last 21 Sessions trading with lower levels supports,higher levels selling and mixed Patterns formation
2- 21 Sessions actual trading between 10638-11181 

Nifty-Intra Day Chart Analysis(30-08-2019)

Nifty-Intra Day Chart (30-Aug-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11003-11022
2- Consolidation in negative zone(below previous close(10948.30) between 10875-10948
2- Consolidation in positive zone(above previous close(10948.30) between 10948-10992
3- Whole day actual trading between 10875-11042

Conclusions from EOD chart analysis 

Corrective Wave-A of "ABC" correction continuation after Impulsive Wave-5 completion at 12103.00 on 03-06-2019. During on going correction Nifty got supports within those strong supports(10583-10694) levels which were updated on 03-08-2019 in "11080 will confirm only a strong Pull Back Rally amid finally correction continuation expectations" and Nifty is sustaining above it for the last 6 sessions after 505 points sharp jump in the next 3 sessions.

Conclusions from 21 Sessions intra day chart analysis 

As last 21 Sessions trading between 10638-11181 with lower levels supports,higher levels selling and mixed Patterns formations also therefore Nifty will firstly trade and prepare for next decisive moves within this range in next week and finally sustaining beyond this range will confirm it.

Conclusions from intra day chart analysis

As firstly selling therefore nifty slipped 149 points in first 3 hours and traded also 73 points down but Consolidated more than 1 hour in negative zone. Follow up consolidation also developed in positive zone therefore closing was seen near higher levels after sharp up moves in last hour. 

As lower levels good consolidation last Friday therefore up moves towards next resistances are expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

Long and Intermediate Term Trends are down and Short Term Trend is sideways between 10638-11181 for the last 21 sessions. 

As last 21 sessions lowest(10638) is between those strong supports(10583-10694) levels which were updated on 03-08-2019 and 27.0% retracement levels(10677) is also lying within mentioned strong supports range as well as Nifty jumped 505 points in the next 3 sessions after the lowest formation at 10638 therefore Wave-B formation first signal emerged to correct the fall of Wave-A.

Next supports within last 21 sessions trading range are as follows:-

1- 10875-10992
2- 10810-10860
3- 10739-10772

Next resistances within last 21 sessions trading range are as follows:-

1- 11100-11141
1- 11147-11181

As above supports and resistances are within last 21 sessions trading range(10638-11181) therefore Nifty will firstly trade and prepare for next decisive moves within this range in next week and finally sustaining beyond this range will confirm following next more than 5% moves which should be firstly watched in next week:-

1- Above 11181 will be first strong signal and sustaining above Long Term Trend decider 200-Day SMA(today at 11209) will confirm formation of Wave-B to correct Wave-A fall from 12103 to 10638.
2- Below 10638 will mean Wave-A continuation towards 38.2% retracement level which is at 10086. 

Correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(30-08-2019)

Nifty-Intra Day Chart (29-Aug-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 10974-11019
2- Selling between 10982-11021
3- Down moves in Bullish Falling Channels
4- Whole day actual trading between 10922-11021

Conclusions from intra day chart analysis 

Although some consolidation at lower levels through Down moves in Bullish Falling Channels but higher levels good selling was also seen therefore correction continuation is expected.

As lower levels consolidation therefore valid break down of today lowest should also be watched because that will confirm sharp fall.

As busy therefore Stock Market Outlook of today(29-08-2019) is not being updated.

Follow up selling tomorrow will mean decisive down moves

Intra Day Chart Analysis & Market Outlook

(28-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Most time sideways trading between 11080-11141
2- At higher levels up moves in Bearish Rising Channels
3- Lower levels supports
4- Whole day actual trading between 11050-11141

Conclusions from intra day chart analysis

1st Resistances between 11086-11181 were updated yesterday in "Watch levels for rally continuation confirmations" and Nifty traded most time within this range today.

Although today closing was near the higher levels of the day but higher levels selling was also seen through up moves in Bearish Rising Channels. As today selling was within above mentioned resistance range therefore emergence of down moves possibility

As some supports were also seen at lower levels today therefore once follow up selling tomorrow will mean decisive down moves will be seen below today lowest. 

Watch levels for rally continuation confirmations

Intra Day Chart Analysis & Market Outlook

(27-08-2019)

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

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Technical Patterns formation in today intraday charts

1- Sharp down after strong gap up opening.
2- Whole day up moves with intraday consolidations
3- Whole day actual trading between 10757-11070

Conclusions from intra day chart analysis 

Although firstly sharp down after gap up opening but after that whole day up moves with intraday consolidations and selling patterns were not seen today therefore last Friday started rally continuation is expected. 

As Very Short Term indicators have turned overbought after last 2 sessions strong rally and following next resistances are lying just above today highest therefore fresh consolidation is firstly required for rally continuation:-

1- 11086-11181
2- 11200-11292
3- 11311-11393

Strong supports were told between 10583-10694 on 03-08-2019 in "11080 will confirm only a strong Pull Back Rally amid finally correction continuation expectations" and 27.0% retracement level(at 10677) is also within these supports as well as Nifty completed 27.0% retracement through lowest formation at 10637.15 last Friday therefore emergence of Wave-B beginning possibility because Nifty jumped 433 points in last 2 sessions after forming bottom within mentioned supports range and testing of 27.0% retracement level.

Long Term Trend decider 200-Day SMA is today at 11200 and above  mentioned multiple resistances after lying below and above 11200 therefore firstly sustaining beyond it should be watched for 1st strong signal of Wave-B beginning.

As above mentioned resistances are above 11086 therefore follow up complete consolidation is must and firstly its happening as well as sustaining above it should be watched for last Friday started rally continuation confirmations.