Watch next supports during 

expected correction in next week

Technical Analysis,Research & Weekly 

Outlook(Jan 11 to Jan 15,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (04-Jan-2022):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC' correction beginning.

2- Corrective Wave-A of "ABC" correction continuation with recent bottom formations at 16410.20 on 20-12-2021 and no confirmation of its completion yet.   

3- Pull Back Rally continuation with recent top formation at 17944.70 on 05-01-2022 

4- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling in bought zone.

5- Stochastic is showing negative divergence 

6- Stochastic:- %K(5)- 81.97 & %D(3)- 89.13.

7- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.

8- MACD(26,12)- 244.73 & EXP(9)- 15.33 & Divergence- 229.40

Conclusions from EOD chart analysis

(Stochastic & MACD)

Pull Back Rally which started from 16410.20 on 20-12-2021 is in continuation with recent top formation at 17944.70 on 05-01-2022 and confirmation its completion yet.  

As in Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling in bought zone as well as it has shown negative divergence therefore it is suggesting strong signals of down moves beginning in next week.

As in MACD MACD line has intersected Average line upward and its both lines are rising in positive zone therefore it showing upward trend formations.

Conclusion from these 2 indicators is that Short Term correction will be seen in next week but will not be deep because in MACD both lines are rising in positive zone.

Nifty-Last 4 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Jan 04 to Jan 07,2022):-

Technical Patterns formation in last 4 Sessions intraday charts

1- Selling(Resistances) in last 4 Sessions are as follows:-

A- 17854-17905 

B- 17921-17944  

2- Consolidation(Supports) in last 4 Sessions are as follows:-

A- 17656-17727 

3- Last 4 Sessions actual trading between 17594-17944 

Conclusions from 4 Sessions

intra day chart analysis 

Last 4 Sessions sideways trading between 17594-17944 with above mentioned supports and resistances. As lower levels supports and higher levels resistances are almost equal stronger therefore Nifty will firstly trade and prepare for next decisive moves beginning within last 4 Sessions trading range(17594-17944),finally sustaining it beyond will confirm it hence should be firstly watched in next week for fate of that Pull Back rally which begun from 16410.20 on 20-12-2021.

Nifty-Intra Day Chart Analysis

(07-Jan-2022)

Nifty-Intra Day Chart (07-Jan-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 17854-17905

2- Down moves with upward corrections

3- Up moves in Bearish Rising Channel

4- Whole day actual trading between 17705-17905

Conclusions from intra day chart analysis 

Although firstly 159 points up moves after positive opening but higher levels selling developed and after that follow up selling was also seen through Down moves with upward corrections therefore Nifty traded in negative zone also after loosing all first 2 hours intraday gains.

As Up moves in Bearish Rising Channels were also seen in last 3 hours therefore whole day good intraday selling will be understood last Friday and down moves will be seen below last Friday lowest(17705) in next week. 

Conclusions

(After putting all studies together)

All the trends have turned up during on going Pull Back rally and no confirmation of its completion yet but firstly its correction is expected in next week because:-

1- Higher levels good intraday selling was seen in previous week.

2- Stochastic is showing negative divergence and its both lines are falling in overbought zone.

Firstly above mentioned last 4 sessions supports and after that following supports below last 4 sessions lowest(17594) should be watched in next week because slipping below it will also be seen during on going Pull Back Rally expected correction:- 

1- 17177-17233

2- 16884-17093

3- 16820-16918

4- 16739-16782

5- 16411-16530

Today support levels will confirm 

size of correction

Nifty-Intra Day Chart (06-Jan-2022):-

Technical Patterns formation in today intraday charts

1- 250 Points crash in first 20 minutes

2- Support between 17656-17727

3- Volatility in last hours between 17730-17789

4- Whole day actual trading between 17656-17797

Conclusions from intra day chart analysis 

As Short Term indicators have turned completely Overbought and intraday selling patterns were also seen yesterday therefore 250 points crash in first 20 minutes but after that somo supports at lower levels hence some up moves developed in last hours which also could not sustain.

Correction of Pull Back rally begun today and today support levels(17656-17727) will confirm the size of that correction which has begun today.

 Remain cautious and watch 

sustaining beyond 18000

Nifty-Intra Day Chart Analysis & 

Market Outlook(06-01-2022)

Nifty-Intra Day Chart (05-Jan-2022):-

Technical Patterns formation in today intraday charts

1- 70 Points sharp fall after positive opening 

2- Down moves in Bullish Falling Channel 

3- Up moves in Bearish Rising Channel

4- Downward corrections

5- Whole day actual trading between 17748-17944

Conclusions from intra day chart analysis 

Although positive opening but immediately after that 70 points sharp fall was also seen. As equally sharp recovery also from lower levels and after that consolidation through Down moves in Bullish Falling Channel therefore rally remained continued till last minutes.

As some selling was also seen through Up moves in Bearish Rising Channel therefore view will be cautious despite continuous consolidation was also seen through downward corrections.   

Short Term indicators have turned completely Overbought and intraday selling patterns were also seen today therefore if fresh selling develops tomorrow then correction of on going Pull Back rally will begin hence remain cautious and firstly watch sustaining beyond next psychological level of 18000 in the coming sessions. 

 Rally continuation and correction only after Fresh selling patterns formations

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-01-2022)

Nifty-Intra Day Chart (04-Jan-2022):-

Technical Patterns formation in today intraday charts

1- Sharp fall after gap up opening

2- Down moves in Bullish Falling Channels

3- Strong up moves in last hours

4- Whole day actual trading between 17594-17827

Conclusions from intra day chart analysis 

As US markets closed with good gains yesterday therefore most Asian markets were also trading strong hence gap up opening of Indian markets but firstly 85 Points fall was seen in first half hour but immediate after that Nifty jumped more tha 100 points from lower levels.

Consolidation developed in Mid-session through  Down moves in Bullish Falling Channels therefore strong up moves in last hour were seen in last hour.

Although Short term indicators have turned Over bought but intraday charts have not shown selling patterns yet therefore some more up moves can not be ruled. Let selling patterns develop then correction will be considered and since then rally continuation will be expected.

 Correction only after complete fresh selling patterns formations

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-01-2022)

Nifty-Intra Day Chart (03-Jan-2022):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Last hour sideways trading between 17608-17646

3- Whole day actual trading between 17384-17646

Conclusions from intra day chart analysis 

As Dow Jones Futures was trading more than 125 points up therefore following lines were told at 09:57 AM on 03-01-2022 in " Firstly watch Next resistances between 17552-17639":-

Next resistances are between 17552-17639 and it will decide the life and length of on going Pull Rack Rally therefore sustaining it beyond should be firstly watched for its confirmations.

As Nifty traded last hour sideways within and near about next resistances(17552-17639) between 17608-17646 as well as closed within it at 17625.70 therefore firstly sustaining it beyond should be watched in the coming sessions for the life and length of on going Pull Rack Rally. As Whole day up moves were with downward corrections and selling patterns were not seen on 03-01-2022 therefore complete fresh selling patterns formations are firstly required  minimum on intraday charts for the correction beginning.

 Firstly watch Next resistances

between 17552-17639

Post-open Outlook(03-01-2022)

As Dow Jones Futures is trading more than 125 points up since today morning therefore sentiment boosted on new year 1st trading day and resultant strong opening of Indian markets.

Next resistances are between 17552-17639 and it will decide the life and lenth of on going Pull Rack Rally therefore sustaining it beyond should be firstly watched for its confirmations.

 Live proofs of our accuracy

Prediction of "Nifty maximum Target" 

at 18793

Prediction of "Nifty above 18000" 

one year before