Firstly rally continuation & finally

 15801-16275 will confirm 

next Short Term trend

Technical Analysis,Research & Weekly Outlook

(Jul 18 to Jul 22,2022)

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (15-Jul-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 with Double Zig-Zag pattern formation 

2- Wave-A completion at 16410.20 on 20-12-2021

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

4- Wave-C bottom formation at 15671.5 on 08-03-2022

5- Wave-X completion at 18114.70 on 04-04-2022

6- Wave-A completion at 15735.80 on 12-05-2021

7- Wave-B completion at 16793.80 on 03-06-2022

8- Wave-C completion at 15183.4 on 17-06-2022

9- Wave-A continuation with recent top formation at 16275.5 on 08-07-2022

10-Wave-A correction continuation with recent bottom formation at 15858.2 on 14-07-2022 

11- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

12- Stochastic:- %K(5)- 24.43 & %D(3)- 33.23.

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

14- MACD(26,12)- 252.20 & EXP(9)- 101.49 & Divergence- 150.71

Conclusions from EOD chart analysis

(Stochastic & MACD)

"ABC" correction continuation with Double Zig-Zag pattern formation and no confirmation of its completion yet on EOD charts.

In Stochastic its both lines are falling towards Over sold zone and not Oversold yet therefore some more down moves possibilities are still alive.

In MACD its both lines are rising in positive zone therefore showing upward trend formations and more up moves in the coming week also.

  

Nifty-Last 8 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Jul 06 to Jul 15,2022):-

Technical Patterns formation in last 8 Sessions intraday charts

1- Selling(Resistances) in last 8 Sessions are as follows:-

A- 16021-16070

B- 16064-16140 

C- 16101-16158 

D- 16198-16236 

2- Consolidation(Supports) in last 8 Sessions are as follows:-

A- 15928-15985

B- 15916-15859 

C- 15914-15948 

D- 15859-15916

3- Last 8 Sessions actual trading between 15801-16275 

Conclusions from 8 Sessions

intra day chart analysis 

Last 8 Sessions trading between 15801-16275 with above mentioned supports and resistances which are equally stronger. As last Friday closing at 16049.20 was almost at the centre of last 8 Sessions trading range therefore expected that Nifty will firstly trade and prepare for next decisive moves within this range and finally sustaining it beyond will confirm it.

Nifty-Intra Day Chart Analysis

(15-Jul-2022)

Nifty-Intra Day Chart (15-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Consolidation between 15928-15985 

2- Up moves with downward corrections

3- Whole day actual trading between 15928-16066

Conclusions from intra day chart analysis 

Although firstly slipping after positive opening but lower levels good consolidation developed between 15928-15985 therefore up moves were seen which remained continued till last minutes. As last 3 hours up moves were with downward corrections and intraday selling patterns were not seen last Friday therefore on going rally will remain continued in the beginning of next week also.

Conclusions

(After putting all studies together)

1- Long Term trend is down.

2- Intermediate Term trend is sideways.

3- Short Term trend is up.

Last 9 months "ABC" correction begun after impulsive Wave-5 completion at 18604.50 on 19-10-2021 and it is correcting that Waves structure which started from 7511.10 on 24-03-2020 through its impulsive Wave-1.

As MACD is showing upward trend formations and good consolidation patterns formations in last Friday intraday chart is also suggesting on going rally continuation therefore firstly decisive up moves will be seen towards above mentioned resistances in the beginning of next week. 

Last 8 Sessions trading between 15801-16275 with almost equal stronger supports and resistances within it therefore Nifty will firstly trade and prepare for next trend within this range. As finally sustaining beyond this range will confirm next Short Term trend and life/length of on going Wave-A correction also therefore should be firstly watched in the coming week.

15916-15859 will confirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(15-07-2022)

Nifty-Intra Day Chart (14-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16021-16070

2- Mixed Patterns formation between 15937-15979

3- Consolidation between 15859-15916

4- Whole day actual trading between 15859-16070

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but after that selling developed therefore not sustained at higher levels and down moves were seen which remained continued till last hours,

As Mixed Patterns formation in Mid-session and after that lower levels consolidation in last hours therefore up moves are expected in the coming sessions. 

Dow Jones is trading 01.18% down at this moment and such weaker US markets today closing will mean sentimental weakness tomorrow morning and in reaction Indian markets may also open in Red but lower levels consolidation was seen today therefore sustaining beyond 15916-15859 should be watched tomorrow for next decisive moves beginning confirmations.

 Levels will confiirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(14-07-2022)

Nifty-Intra Day Chart (13-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16064-16140

2- Down moves

3- Sideways trading between 15951-16007

4- Whole day actual trading between 15951-16140

Conclusions from intra day chart analysis 

Although positive opening but follow up selling developed therefore could not sustain at higher levels and down moves were seen in Mid-session. 

As sideways trading in last 2 hours between 15951-16007 therefore and one sided trading patterns were not seen therefore expected that Nifty will firstly traded within and near about this range as well as prepare for next decisive moves hence firstly valid break out of this range should be watched tomorrow for its confirmations.

 Correction continuation expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(13-07-2022)

Nifty-Intra Day Chart (12-Jul-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 16101-16158

2- Sharp fall in last hour

3- Whole day actual trading between 16032-16158

Conclusions from intra day chart analysis 

Following lines were told on 09-07-2022 in "Short Term Correction is on cards":-

1- strong indication of Short Term Correction beginning therefore it may begin any day in next week.

2- strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.

As was told 100% same happened and Short Term Correction is being seen in this week.

As good selling in first 5 hours therefore sharp fall was seen in last hour and correction continuation is expected in the coming sessions also as well as until Nifty will not sustain above today highest after complete consolidation till then decisive up moves will not be seen.

 As not feeling well therefore Stock Market Outlook of today(12-07-2022) is not being updated.