Firstly Levels should be watched for next trend confirmations

Technical Analysis,Research & Weekly Outlook

(Nov 18 to Nov 22,2019)

Nifty-EOD Chart Analysis

(Corrective Waves)

Nifty-EOD Chart (15-Nov-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  completion at 10637.15 on 23-08-2019 and Wave-B beginning
3- Wave-B continuation with recent top formations at 12034.10 on 08-11-2019
4- Last 11 Sessions sideways trading between 11803-12034

Conclusions from EOD chart analysis 

1- Long Term Trend is up.
2- Intermediate Term Trend is up.
3- Short Term Trend is sideways between 11803-12034 for the last 11 sessions. 

Nifty-Last 11 Sessions intraday charts analysis

Nifty-Intra Day Chart (Oct 31 to Nov 15,2019):-

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Technical Patterns formation in last 11 Sessions intraday charts

1- Last 11 Sessions trading with both lower levels buying and higher levels selling.
2- 11 Sessions actual trading between 11803-12034

Conclusions from 11 Sessions intra day chart analysis 

As last 11 sessions trading between 11803-12034 with both lower levels buying and higher levels selling therefore firstly Nifty has to trade and prepare for next decisive moves within this range which will be done in next week and finally sustaining beyond or forceful break out of this range will confirm next decisive moves. 

Supports and Resistainces within last 11 sessions trading range are as follows:-

Next supports within last 11 sessions range are as follows:- 

1- 11850-11870 
2- 11803-11840

Next resistances within last 11 sessions range are as follows:- 

1- 11926-11973
2- 11975-12034

Nifty-Intra Day Chart Analysis

 (15-Nov-2019)

Nifty-Intra Day Chart (15-Nov-2019):-

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Technical Patterns formation in today intraday charts

1- Selling Patterns formation between 11926-11973 (Immediate Supports)
2- Sharp fall in last half hour
3- Whole day actual trading between 11880-11973

Conclusions from intra day chart analysis 

As more than 5 hours selling Patterns formation between 11926-11973 therefore sharp fall in last half hour and until complete consolidation will not develop tll then decisive up moves will not be seen above 11973.

Follow up selling and sustaining below 11926 in next week will mean decisive down moves beginning which should be firstly watched in next week.

Conclusions
 (After Putting All Studies Together)

Wave-B of "ABC" correction is continued with recent top formations at 12034.10 on 08-11-2019 and no confirmation of its completion yet. As last 11 sessions trading is sideways between 11803-12034 and sustaining beyond or forceful break out of this range will give first strong indication of Wave-B life therefore should be firstly watched in next sessions/weeks for following decisive moves beginning confirmations:- 

1- Above 12034 will mean high possibility of fresh rally beginning with new life time highest formations above 12103 and in that situation Waves will be recounted 
2- Below 11803 will mean fresh down moves beginning towards the bottom of Wave-B(10637.15) but Wave-C formation for moving below 10637.15 will get confirmation after sustaining below Long Term average(200 Day SMA)

As sustaining beyond last 11 Sessions sideways trading range(11803-12034) will give first indication of next trend therefore should be firstly watch in next week for its confirmation.

Firstly watch levels after Rafale judgement led volatility

Intra Day Chart Analysis & Market Outlook
(15-11-2019)

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

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Technical Patterns formation in today intraday charts

1- Slipping after flat opening
2- Up moves after Modi ji Govt favoring judgement on Rafale by Supreme Court
3- Slipping from higher levels
4- Up moves in Bearish Rising Channel
5- Whole day actual trading between 11803-11895

Conclusions from intra day chart analysis

As good selling yesterday therefore firstly slipping from higher levels after flat opening but up moves were also seen immediately after Modi ji Govt favoring judgement on Rafale by Supreme Court which could not sustain at higher levels and again slipped.

Although today positive closing was near the higher levels of the day but last hours Up moves were in Bearish Rising Channels and Supreme Court judgement led volatility was also seen in last 5 hours therefore firstly sustaining beyond today trading range should be watched tomorrow because technical positions reverses also in today like intraday volatility.

Correction continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(14-11-2019)

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

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Technical Patterns formation in today intraday charts

1- Selling between 11875-11946
2- Down moves in last hours
3- Whole day actual trading between 11824-11946

Conclusions from intra day chart analysis 

As first 5 hours selling and continuous slipping therefore down moves were seen in last hours also.

No consolidation patterns formations and most crucial supports at 11850 broken down also today hence correction continuation is expected in the coming sessions which may be deeper also because next supports below today lowest are lying between 11500-11530.

Levels will confirm next decisive moves

Intra Day Chart Analysis & Market Outlook

(13-11-2019)

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

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Technical Patterns formation in today intraday charts

1- More than 5 hours trading with Mixed Patterns formation between 11854-11912
2- Sharp up moves in last half hour
3- Whole day actual trading between 11854-11932

Conclusions from intra day chart analysis 

Although last Monday closing was near the higher levels of the day after sharp up moves in last half hour but before this up moves pure consolidation was not seen and more than 5 hours trading was with Mixed Patterns formation between 11854-11912 therefore firstly sustaining above 11912 should be watched tomorrow for further up up moves confirmations.

As selling patterns were also seen between 11854-11912 last Monday therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about this range and finally sustaining beyond this range will confirm next decisive moves.