Live proofs of our accuracy
Just click on following "Topic link" and go through above topic in this Blog which was posted on 16-01-2021:-
Just click on following "Topic link" and go through above topic in this Blog which was posted on 05-12-2020:-
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Firstly watch crucial levels in Budget news led highly volatile next week
Technical Analysis,Research &
Weekly Outlook(Jan 25 to Jan 29,2021)
Nifty-EOD Chart Analysis
(Averages,MACD & Stochastic)
Nifty-EOD Chart (22-Jan-2021):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 continuation with recent top formation at 14753.55 on 21-01-2021
2-Averages
A- 5-Day SMA is today at 14481
B- 13-Day SMA is today at 14437
C- 21-Day SMA is today at 14264
D- 55-Day SMA is today at 13541
3- Stochastic %K(5) is at 64.14 & %D(3) is at 67.11
4- MACD line intersected Average line downward
Conclusions from EOD chart analysis
(Averages,MACD & Stochastic)
Impulsive Wave-5 continuation with recent top formation at 14753.55 on 21-01-2021. Although no confirmation of its completion yet but correction beginning signals developed in last 2 sessions through 2 long Black candles formation and previous week closing below 13-Day SMA(14437) at 14357.75.
In Stochastic %K(5) has intersected downward %D(3) and started to move down from Over bought zone after making lower top formation therefore indicating more down moves possibilities in the coming sessions.
In MACD also MACD line intersected Average line downward therefore showing Short Term Trend turning down indications.
Nifty-Last 5 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Jan 18 to Jan 22,2021):-
Technical Patterns formation in last 5 Sessions intraday charts
1 Selling(Resistances) in last 5 sessions are between:-
A- 14477-14528
B- 14555-14619
C- 14701-14753
2- Consolidation(Supports) in last 5 sessions are sessions:-
A- 14265-14340
3- Mixed Patterns formation between 14358-14483
4- 5 Sessions actual trading between 14223-14753
Conclusions from 5
Sessions intra day chart analysis
Last 5 Sessions actual trading between 14223-14753 with higher levels multiple resistances and only one support range at lower levels.
As more than last 2 hours trading with Mixed Patterns formation between 14358-14483 last Friday was just above next supports(14265-14340) and just below next resistances(14477-14528) therefore expected that Nifty will firstly trade between 14265-14528 in the beginning of next week and finally sustaining beyond this range will confirm the life of last Thursday started correction.
Nifty-Intra Day Chart
Analysis(22-Jan-2021)
Nifty-Intra Day Chart (22-Jan-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 14555-14619(immediate Resistances)
2- Sharp fall
2- Selling between 14477-14528(immediate Resistances)
3- Mixed Patterns formation between 14358-14483
4- Whole day actual trading between 14358-14619
Conclusions from
intra day chart analysis
Although positive zone trading was seen in first hour after flat opening but selling developed therefore sharp fall was seen.
Follow up selling was seen in Mid-session but last more than 2 hours trading was with Mixed Patterns formation between 14358-14483 because both consolidation and selling patterns were seen within this range.
Expected that Nifty will firstly trade and prepare for next moves between 14358-14483 in the beginning of next week and firstly sustaining it beyond should be watched for moves towards next support below 14358 and next resistances above 14483.
Conclusions
(After Putting All Studies Together)
1- Long Term Trend is up
2- Intermediate Term Trend is up
3- Short Term Trend has turned down after closing below 13-Day SMA(14437) at 14357.75.
As Waves structure was updated in previous weekly Outlook and no material change in its set up therefore only Averages and Indicators have been posted in this week Outlook.
Although new life time highest in previous week but Nifty could not move above Immediate maximum target of Nifty which was at 14754.25 and slipped also 395 points from 14753.55 in last 2 sessions therefore given waves structure is still valid.
As Union Budget will be announced on 01-02-2021 and Indian markets will have to prepare for post Budget big moves therefore next 4 sessions of the coming week will be crucial because Nifty will technically prepare for post-Budget big moves in this period.
As coming week will be Budget news led highly volatile and firstly sustaining beyond crucial levels(14265-14528) should be watched in next week because Nifty will firstly prepare for post-Budget big moves between and near about 14265-14528 in the beginning of next week. As strong resistances are above it therefore Nifty will have to consolidate completely for crossing and sustaining above those resistances. Remain completely careful because fresh selling within this range and sustaining below 14265 will mean huge fall because next supports are much below it.
Watch levels for first signal of next decisive moves beginning amid Volatility
Nifty-Intra Day Chart Analysis &
Market Outlook(22-01-2021)
Nifty-Intra Day Chart (21-Jan-2021):-
Technical Patterns formation in today intraday charts
1- More than 5 hours selling between 14701-14753(immediate Resistances)
2- Sharp fall in last hour
3- Whole day actual trading between 14518-14753
Conclusions from intra day chart analysis
Live proofs of levels accuracy
Following line was told on 16-01-2021 in "Firstly watch immediate maximum target of Nifty at 14754.25 amid Pre-Post Budget news led volatility ":-
immediate maximum target of Nifty is at 14754.25
Immediate maximum target of Nifty was given at 14754.25 on 16-01-2021 and Nifty crashed 235 points from 14753.55 on 21-01-2021.
Although strong gap up opening today but sentiment turned heated due to SENSEX surpassing 50,000 mark therefore selling developed which remained continued more than 5 hours hence sharp fall was seen in last hour.
As more than 5 hours selling between 14701-14753 therefore it will be immediate resistance of Nifty and next supports are between 14265-14340 hence Nifty will prepare for post-budget moves between 14265-14753 in the coming sessions and remain volatile also within this 488 points range.
Expected that Nifty will firstly trade and prepare for next decisive moves between 14518-14665 and sustaining beyond this range should be watched for first signal of its beginning.
Firstly watch 1st resistance for next decisive moves beginning confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(20-01-2021)
Nifty-Intra Day Chart (19-Jan-2021):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- Whole day actual trading between 14351-14546
Conclusions from intra day chart analysis
Following lines were told and 3 resistances were updated on 16-01-2021 in "Firstly watch immediate maximum target of Nifty at 14754.25 amid Pre-Post Budget news led volatility":-
1- For correction life firstly sustaining beyond 13-Day SMA(14276) should be watched in the coming week because it is between immediate next supports(14230-14301).
2- 3 Resistances:-
1- 14482-14549
2- 14580-14617
3- 14621-14648
Immediate next supports were told between 14230-14301 and Nifty got supports just below it at 14,222.80 on 18-01-2021 as well as after that 239.85 points rally was seen today which remained continued up to 1st resistances at 14546.05.
Although whole day today up moves were with downward corrections and closing was near the higher levels of the day as well as selling patterns were not seen but Very Short Term indicators have turned Over Bought after strong rally of today and above mentioned resistances are lying within and above today closing therefore firstly complete consolidation is required for rally continuation above today highest.
Expected that Nifty will firstly trade and prepare for next decisive moves within and neat about above mentioned 1st resistance(14482-14549) and finally sustaining it beyond will confirm following next moves:-
1- Sustaining below 14482 will mean sharp fall.
2- Sustaining above 14549 will mean slow up moves with follow up consolidation because above it multiple resistances are lying up to 14648.
Firstly sustaining beyond above mentioned 1st resistance(14482-14549) should be watched tomorrow for next decisive moves beginning confirmations.
Firstly watch supports for the life of on going correction
Nifty-Intra Day Chart Analysis &
Market Outlook(19-01-2021)
Nifty-Intra Day Chart (18-Jan-2021):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
2- Selling between 14265-14343(immediate Resistances)
3- Up moves in Bearish Rising Channel
4- Down moves with upward corrections
5- Whole day actual trading between 14223-14459
Conclusions from intra day chart analysis
Following lines were told at on 16-01-2021 in "Firstly watch immediate maximum target of Nifty at 14754.25 amid Pre-Post Budget news led volatility ":-
1- Nifty will slip towards the lowest of last 5 sessions(14358) and once sustaining below it will mean sharp fall
2- correction continuation is expected in the beginning of next week
3- At present Short Term correction is on and its continuation is expected below last 5 sessions lowest(14358)in the coming week.
4- For correction life firstly sustaining beyond 13-Day SMA(14276) should be watched in the coming week because it is between immediate next supports(14230-14301).
As was told 100% same happened today and:-
1- Nifty slipped below 14358 today
2- Today lowest was just below immediate next supports(14230-14301) at 14,222.80 and closed near 13-Day SMA(14276) at 14281.30.
Nifty slipped 40 points in first 2 minutes and more than 100 points within first 20 minutes as well as after that whole day selling remain continued thorugh Down moves with upward corrections and up moves in Bearish Rising Channel therefore Nifty closed at the lower levels of the day.
As very Short Term Indicators have turned oversold and Nifty closed within mentioned supports(14230-14301) therefore firstly sustaining it beyond should be watched in the coming sessions for the life of on going correction.
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