Watch supports & resistances also amid Russia-Ukraine war led

 violent volatility

Technical Analysis,Research & Weekly Outlook

(Feb 28 to Mar 04,2022)

Live Proofs of our accurate & profitable Indian Stock Markets Predictions

Following topic was posted in previous week Outlook on 19-02-2022:- 

Sharp fall & deeper correction

 on cards

As was told 100% same happened and "Nifty crashed more than 1000 Points" in first 4 sessions of previous week

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (24-Feb-2022):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020  

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020

4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021

5- Corrective Wave-4 completion at 14151.4 on 22-04-2021

6- 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.

7- Correction continuation with recent bottom formation at 16203.3 on 24-02-2022 

Conclusions from EOD chart analysis(Waves structure)

Waves structure which begun through its Impulsive Wave-1 starting from 7511.10 on 24-03-2020 completed at 18604.50 on 19-10-2021 after its Impulsive Wave-5 completion and Corrective Wave-A of "ABC" correction beginning. Now corrective Wave-C of "ABC' correction continuation with recent bottom formation at 16203.3 on 24-02-2022 and no confirmation of its completion yet.

Nifty-EOD Chart Analysis

(Corrective Waves)

Nifty-EOD Chart (24-Feb-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 completion at 16410.20 on 20-12-2021

3- Wave-B completion at 18351.00 on 18-01-2022.

4- Wave-C continuation with recent bottom formation at 16203.3 on 24-02-2022

Conclusions from EOD chart analysis

(Corrective Waves)

Corrective Wave-A of "ABC" correction which started from 18604.50 on 19-10-2021 completed at 16410.20 on 20-12-2021 and Wave-B begun. Wave-C begun after Wave-B completion at 18351.00 on 18-01-2022 and now in continuation with its recent bottom formation at 16203.3 on 24-02-2022 and no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (24-Feb-2022):-

Technical Patterns and Formations in EOD charts

A- 5-Day SMA is today at 16853 

B- 21-Day SMA is today at 17246

C- 55-Day SMA is today at 17405

D- 100-Day SMA is today at 17577

E- 200-Day SMA is today at 16903

Conclusions from EOD chart analysis

(Averages)

Simple Moving Averages(SMA) are suggesting that weakness is deepening In Indian markets because 5-Day SMA and last Friday closing was below Long Term trend decider 200-Day SMA as well as all Short to Intermediate Term decider Averages(SMA) have started to move downward which is also a strong signal of weakness.

Conclusions (After putting all studies together)

All the trends have turned down during on going "ABC' correction and no confirmation of its completion yet on EOD charts. 

Russia-Ukraine war led huge volatility was seen in previous week and it will remain continued in next week also according to the length and size  of Geo-Political tension. As Long Term Trend is at stake after last 2 sessions below it closing therefore firstly sustaining beyond it should be watched in the coming week/weeks for next trend formation confirmation and final moves Indian markets accordingly.

As violent volatility may be seen in all the Global and Indian markets according to Russia-Ukraine war news flow therefore sustaining beyond following supports and resistances should also be watched for next decisive moves beginning confirmations.

Immediate resistances are as follows:-

A- 17156-17220

B- 17290-17417

C- 17580-17639 

D- 17648-17684

E- 17699-17731  

F- 17736-17761

Immediate supports are as follows:-

A- 16633-16676

B- 16558-16602

C- 16361-16396

D- 16218-16279

 As busy therefore Stock Market Outlook of today(25-02-2022) is not being updated.

Watch levels for confirmation amid deeper correction beginning possibility

Nifty-Intra Day Chart Analysis &

Market Outlook(24-02-2022)

Nifty-Intra Day Chart (23-Feb-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 17156-17220

2- Sharp fall in last hour

3- Whole day actual trading between 17028-17220

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but good selling between 17156-17220 therefore sharp fall in last hour. Technical positions of last 6 sessions are as follows:-

1- Consolidation between 16844-16981 on 22-02-2022.

2- Good selling above 17156 in 5 sessions of last 6 sessions 

Expected that Nifty will firstly trade and prepare for next decisive moves betwen 16844-17156 tomorrow and closing is also expected within this range because good strong consolidation was seen above it on 22-02-2022

As good selling above 17156 therefore Nitfy will not sustain above it and once sustaining below 16844 after complete fresh selling will mean strong signal of deeper correction beginning.

 for confirmation

Just watch above mentioned levels for confirmation in the coming 2/3 sessions amid deeper correction beginning possibility

 Up moves towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-02-2022)

Nifty-Intra Day Chart (22-Feb-2022):-

Technical Patterns formation in today intraday charts

1- 362 Points sharp fall in first 25 minutes

2- Consolidation between 16844-16981(immediate supports)

3- Sharp up

4- Sideways trading between 17062-17148 in last 2 hours

5- Whole day actual trading between 16844-17148

Conclusions from intra day chart analysis 

Although firstly 362 Points sharp fall in first 25 minutes but after that good Consolidation between 16844-16981 therefore sharp up moves were seen in Mid-session which will remain continued in the coming session also towards next resistances between 17290-17351.

 Correction towards & below

 next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-02-2022)

Nifty-Intra Day Chart (21-Feb-2022):-

Technical Patterns formation in today intraday charts

1- 205 Points sharp fall in first 25 minutes

2- Slow up moves from lower levels 

3- Selling between 17290-17351(immediate Resistances)

4- Down moves with upward corrections

5- Whole day actual trading between 17071-17351

Conclusions from intra day chart analysis 

Following lines were told on 19-02-2022 in "Sharp fall & deeper correction on cards":-

1- Averages are suggesting that deeper correction is on cards

2- firstly down moves will be seen in the beginning of next week towards the lowest of last 3 sessions(17220)

3- firstly down moves will be seen towards and below the lowest(17220) of last 3 sessions

As was told 100% same happened and Nifty crashed 205 Points sharp fall in first 25 minutes as well as closed below the lowest of last 3 sessions(17220) on 21-02-2022.

As whole day good selling on 21-02-2022 therefore correction will be seen in the coming sessions towards and below those next supports which have already been updated on 19-02-2022 in "Sharp fall & deeper correction on cards".