Last 24 Sessions trading range break out will confirm more than 3% one sided big moves

Technical Analysis,Research & 

Weekly Outlook(Jul 05 to Jul 09,2021)

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (02-Jul-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 15915.60 on 28-06-2021

2- Stochastic %K(5) is at 14.95 & %D(3) is at 20.84

3- Stochastic- %K(5) line has intersected %D(3) line downward and both lines are falling towards Oversold zone

4- In MACD- MACD line  has intersected Average line downward and both lines are falling in positive zone.

6- Last 24 sessions sidewys trading between 15451-15915 from 01-06-2021 to 02-07-2021

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic both %K(5) & %D(3) have moved into Oversold zone therefore signalling that Short Term up moves are on cards.

In MACD both lines are falling after MACD line downward intersection of Average line therefore showing downward trend and no indication of upward trend formation.

Last 24 sessions sideways trading between 15451-15915 with lower levels supports and higher levels resistances of last Friday closing therefore Nifty will firstly trade within this range in next week and finally sustaining beyond this range will generate big moves which should be watched in the coming week/weeks.

Nifty-Last 24 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Jun 01 to Jul 02,2021):-

Technical Patterns formation in last 24 Sessions intraday charts

1- Selling(Resistances) in last 24 Sessions  are as follows:-

A- 15810-15839  

B- 15840-15874

C- 15873-15894

2- Consolidation(Supports) in last 24 Sessions are as follows:-

A- 15656-15709

B- 15618-15647

C- 15542-15586

D- 15460-15537(Strong supports)

3- Sideways trading in last 24 Sessions are between 15451-15915

Conclusions from 24 Sessions 

intra day chart analysis 

As good intraday consolidation in last 2 sessions therefore Nifty closed near the top of last 2 sessions and some up moves will be seen in the beginning of next week also but above mentioned multiple and strong resistances are lying above 15810 hence complete fresh consolidation is firstly required for sustining and decisive up moves above 15915.

Above mentioned equally strong supports are below last Friday closing also therefore Nifty will trade and prepare for next trend within last 24 sessions trading range in the next week and finally sustaining it beyond or forceful break out of 15451-15915 will form next big moves hence should be firstly watched in next week/weeks for its confirmations 

Nifty-Last 2 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Jul 01 & Jul 02,2021):-

Technical Patterns formation in last 24 Sessions intraday charts

1- Down moves in Bullish Falling Channels on 01-07-2021

2- Up moves with downward corrections on 01-07-2021

3- Sharp fall on 02-07-2021  

4- Down moves in Bullish Falling Channels on 02-07-2021

5- Up moves with downward corrections on 02-07-2021

6- Last 2 Sessions actual trading between 15626-15755 

Conclusions from 2 Sessions

intra day chart analysis 

Although sharp fall on 02-07-2021 but most of the time consolidation was seen in last 2 sessions through Down moves in Bullish Falling Channels and Up moves with downward corrections therefore up moves are expected in the beginning of next week above last 2 sessions highest(15755) and towards next resistances.

Conclusions

(After Putting All Studies Together)

1- Long Term Trend is up

2- Intermediate Term Trend is up

3- Short Term Trend is sideways between 15451-15915 for the last 24 sessions 

Although previous week opening was with new life time highest formation at 15915.60 on 28-06-2021 but after that whole week intrday down moves were seen with higher levels selling and Weekly lowest formation last Friday also. 

As Short Term indicator Stochastic has moved into Oversold zone and lower levels consolidation also developed in last 2 sessions hence up moves are expected in the beginning of next week.

Last 24 Sessions sideways trading between 15451-15915 and above mentioned equally strong supports and resistances are also lying below and above last Friday closing therefore Nifty will firstly trade and prepare for the next big moves within this range. Let Nifty to sustain beyond or forceful break out of 15451-15915 then more than 3% one sided big moves will be seen in the coming week/weeks.

 As out of station therefore Stock Market Outlook of today(02-07-2021) is not being updated.

Sustaining below 15700 will confirm 

decisive down moves 

Mid-session Outlook(01-07-2021)

Although Nifty slipped below 15709 and now trading also below 15700 but Down moves are being seen in Bullish Falling Channel also therefore firstly sustaining below 15700 should be watched for decisive down moves confirmations.

 Levels will confirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-07-2021)

Nifty-Intra Day Chart (30-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel

2- Selling between 15810-15839 

3- Down moves in Bullish Falling Channel

4- Whole day actual trading between 15709-15839

Conclusions from intra day chart analysis 

As firstly up moves in Bearish Rising Channel and after that good selling between 15810-15839 therefore down moves were seen till last minutes. Although closing was near lower levels of the day but some consolidation will also be understood in last 2 hours because Down moves were in Bullish Falling Channel during this period.

Expected that Nifty will firstly trade between 15709-15810 and follow up moves within this range will decide next trend but until complete consolidation will not develop till then decisive up moves will be not seen above 15810 and fresh selling with sustaining below 15709  will mean sharp fall. 

 Fresh selling today will mean 

sharp fall

Nifty-Intra Day Chart Analysis & 

Market Outlook(30-06-2021)

Nifty-Intra Day Chart (29-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15816-15835

2- Selling between 15759-15796

3- Support between 15725-15764

4- Whole day actual trading between 15725-15835

Conclusions from intra day chart analysis 

Although good selling at higher levels and negative closing also yesterday but some supports were seen at lower levels therefore firstly Nifty will trade and prepare for next decisive moves between 15725-15835.

As good selling at higher levels and if fresh selling develops today then sharp fall will be seen and its confirmation will be sustaining below yesterday lowest(15725)

15793-15851 will generate first signal of next decisive move beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-06-2021)

Nifty-Intra Day Chart (28-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Volatility after opening 

2- Selling between 15840-15874

3- More than 3 hours sideways trading between 15793-15851

4- Whole day actual trading between 15793-15915

Conclusions from intra day chart analysis 

Firstly volatility after opening and after that selling developed therefore some down moves were seen. As FM Nirmala Sitaraman Press Conference was at 03:00 PM today therefore last more than 3 hours trading turned sideways between 15793-15851 and closing was also within it hence firstly sustaining beyond this range should be watched tomorrow for first signal of next decisive move beginning.