Levels will confirm strong rally above 

life time highest or correction 

towards next supports

Technical Analysis,Research & Weekly Outlook

(Jun 12 to Jun 16,2023)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (09-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-[(i)] of Wave-1 completion at 18096.2 on 15-09-2022.

3- Corrective Wave-[(ii)] of Wave-1 completion at 16747.7 on 30-09-2022.

4- Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction begining.

5- Corrective Wave-A of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 17774.3 on 26-12-2022.

6- Corrective Wave-B of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 18265.3 on 30-12-2022.

7- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion strong indications after its recent bottom formation at 16828.3 on 20-03-2023.

8- Pull Back Rally continuation with recent top formation at 18777.90 on 08-06-2023.

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.4 on 17-06-2022 and from this level Impulsive Wave-1 of new Waves structure begun. Impulsive Wave-[(i)] of Wave-1 completed at 18096.2 on 15-09-2022 and Corrective Wave-[(ii)] of Wave-1 started which completed at 16747.7 on 30-09-2022 and from this levels impulsive Wave-[(iii)] of Wave-1 begun.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completed at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction started. Now its corrective Wave-C is in continuation with recent bottom formation at 16828.3 on 20-03-2023 but strongest indications of its completion emerged at this levels because:- 

1- Nifty has surged 1949.6 points(11.58%) from lowest levels of corrective Wave-C. 

2- Nifty remained only 109.7 shorter of Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 top(18887.6) which is also Nifty life time highest.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (09-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Last 10 Sessions trading between 18465-18777

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

3- Stochastic:- %K(5)- 53.49 & %D(3)- 69.10.

4- Stochastic is showing negative divergence

5- MACD- Its both lines are kissing in positive zone.

6- MACD(26,12)- 170.22 & EXP(9)- 158.03 & Divergence- 12.19

7- MACD is showing negative divergence

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- As in Short Term indicator Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone as well as this indicator is showing negative divergence therefore showing more down moves possibilities in next week. 

2- As both lines of MACD are kissing in positive zone and this indicator is showing negative divergence also therefore at present this indicator is not showing any side direction but if downward intersection get confirmations then deeper correction will be seen after Downward Trend formation confirmations. 

Nifty-Last 10 Sessions

intraday charts analysis

Nifty-Intra Day Chart (May 29 to Jun 09,2023):-

Technical Patterns formation in last 10 Sessions intraday charts

1- Selling(Resistances) in last 10 Sessions are as follows:-

A- 18608-18665

B- 18679-18738

C- 18761-18777

2- Consolidation(Supports) in last 10 Sessions are as follows:-

A- 18532-18565

B- 18479-18516

3- Last 10 Sessions actual trading between 18465-18777 

Conclusions from 10 Sessions

intra day chart analysis 

Last 10 sessions sideways trading between 18465-18777 with above mentioned supports and resistances which seems to be almost equal stronger therefore firstly Nifty will have to trade and prepare for next trend within this range in next week. As finally sustaining beyond last 10 sessions like bigger trading range will confirm next one sided decisive moves therefore it should be watched in the coming week/weeks for its confirmations.

Nifty-Intra Day Chart

Analysis(09-Jun-2023)

Nifty-Intra Day Chart (09-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Volaitlity in first hour between 18609-18676

2- Selling between 18623-18665

3- Down moves with upward corrections

4- Down moves in Bullish Falling Channels

5- Whole day actual trading between 18556-18676

Conclusions from intra day

chart analysis 

Although firstly up moves after positive opening but turned into volaitlity in first hour and after that selling was seen in next 2 hours as well as follow up selling through Down moves with upward corrections therefore correction remained continued till last minutes. As lower levels consolidation through Down moves in Bullish Falling Channels in last 2 hours therefore firstly up moves will be seen within last Friday trading range(18556-18676) but complete conoslidation is required for sustaining above last friday highest because good intraday selling was also seen below it last Friday.

More or less firstly up moves and after that sideways trading is expected within last Friday trading range(18556-18676) in the beginning on next week.

Conclusions

(After putting all studies together)

1- Short Term Trend is sideways between 18465-18777 

2- Intermediate Term Trend is up.

3- Long Term Trend is up.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 new Waves structure completed at 18887.6 on 01-12-2022 and "ABC" correction started. The Pull Back Rally which started from its Wave-C bottom(16828.3) has recovered 94.67% of "ABC" correction and remained only 109.7 shorter from the top of on going correction therefore strongest indications of "ABC" correction completion have emerged.    

As intraday charts of last Friday are suggesting up moves beginning possibilities in the beginning of next week therefore firstly sustaining beyond above above mentioned resistances should be watched in next week because Short term indicators are suggesting some more down moves possibilities which will be deeper if Nifty sustains below last 10 sessions sideways trading range lowest(18465). Supports below the lowest of last 10 sessions trading range are as follows:-

1- 18419-18445

2- 18373-18397

3- 18325-18353

4- 18203-18261

5- 18059-18127

It has been seen that many times Bullish markets completes its correction in sideways markets also and Nifty has turned sideways between 18465-18777 for the last 10 Sessions therefore firstly sustaining beyond this trading range should be watched in the coming week/weeks for:-

1- Forceful break out or sustaining above 18777 will mean strong rally above life time highest(18887.6) 

2- Forceful break down or sustaining below 18465 will mean correction continuation towards above mentioned next supports.

 Live Proofs of our 100% accurate 

Analysis & Outlooks

Following line was told yesterday at 08:30 PM in "Down moves expectations towards next supports":-

"down moves are expected towards next 

supports between 18532-18565"

As was told 100% same happened and:- 

1- Nifty closed 71.15 Points down today.

2- "Today Lowest" was at within yesterday mentioned supports range(18532-18565) at "18555.40".

3- "Today closing" was also at within yesterday mentioned supports range(18532-18565) at "18563.40".

Down moves expectations 

towards next supports 

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-06-2023)

Nifty-Intra Day Chart (08-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after flat opening

2- Selling between 18761-18777

3- Sharp fall in Mid-session

4- Selling between 18679-18721

5- Down moves in last hour 

6- Whole day actual trading between 18616-18777

Conclusions from intra day chart analysis 

Following lines were told yesterday in "firstly intraday correction is expected towards 18673":-

firstly intraday correction is expected towards 18673

As was told 100% same happened today and:- 

1- Intraday correction was seen today and Nifty closed 91.85 points down. 

2- Today lowest was at 18615.

Although firstly up moves were seen after flat opening but higher levels selling developed therefore sharp fall was after that. As follow up selling also in Mid-session hence again down moves in last hour and today closing was at the lower levels of the day. 

As whole day good intraday selling today therefore down moves are expected towards next supports between 18532-18565.

Firstly intraday correction & if complete consolidation then fresh rally

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-06-2023)

Nifty-Intra Day Chart (07-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Consolidation between 18636-18673

2- Up moves in Bearish Rising Channel

3- Whole day actual trading between 18636-18738

Conclusions from intra day chart analysis 

As firstly more than 3 hours consolidation after gap up strong opening therefore up moves remained continued till last minutes and today closing was at higher levels of the day. Although up moves were seen in last 2 hours but were in Bearish Rising Channel and Very Shott Term indicators have turned Over bought as well therefore firstly intraday correction is expected towards 18673. Let Nifty to sustain above 18673 and complete consolidation develop then fresh rally will be seen above today highest.

Finally 18532-18640 will confirm next big moves beginning amid firstly up moves expectations

Nifty-Intra Day Charts Analysis & 

Market Outlook(07-06-2023)

Nifty-Intra Day Chart (Jun 05 & Jun 06,2023):-

Technical Patterns formation in last 2 sessions intraday charts

1- Selling between 18608-18640 on 05-06-2023(immediate supports)

2- Sharp fall in last half hour on 05-06-2023

3- 79 Points Points down moves from intraday higher levels till 12 o' clock on 06-06-2023

4- Consolidation between 18532-18565 on 06-06-2023

5- Sharp up moves in last half hour on 06-06-2023

6- Last 2 sessions actual trading between 18532-18640 

Conclusions from 2 sessions

intra day chart analysis 

Following lines were told on 02-06-2023 in "Sustaining beyond 18465-18662 will confirm next trend":-

1- up moves in the beginning of next week

2- finally sustaining beyond 18465-18662 will confirm next trend towards above mentioned levels therefore should be firstly watched in next week.

3-  firstly Nifty will have to trade within this range in the beginning of next week. 

As was told 100% same happened and:-

1- Nifty closed 59 points up after 106 points intraday gains on 05-06-2023.

2- Nifty traded within mentioned range(18465-18662) and between 18532-18640 in first 2 sessions of the week.

As higher levels good selling and lower levels good consolidation in first 2 sessions of this week between 18532-18640 therefore NIfty will firstly trade and prepare for next decisive moves within and near about it. Finally sustaining beyond this range will generate strong signal of next one sided big moves beginning which should be firstly watched in the coming sessions for it. As  sharp up moves were seen in last half hour on 06-06-2023 after lower levels good intraday consolidation therefore firstly up moves are expected towards immediate resistances(18608-18640) and firstly sustaining it beyond should be watched tomorrow for first signal of next big moves beginning.

As out of station therefore unable to post today(06-06-2023) Outlook.