Finally sustaining beyond 21965-22676 will generate one sided bigger moves & confirm the life & length of on going "ABC" correction
Technical Analysis,Research & Weekly
Outlook(Mar 17 to Mar 21,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (13-Mar-2025):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.
2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.
3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.
4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.
5- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.
6- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.
7- Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning.
8- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and Corrective Wave-A of Wave-(iv) of Wave-3 of "ABC" correction beginning.
9- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.
10- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
11- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 21964.60 on 04-03-2025.
12- Pull Back Rally continuation with recent top formations at 22676.60 on 10-03-2025.
13 Last 13 Sessions sideways trading between 21965-22676
Conclusions from EOD chart analysis
(Waves structure)
Impulsive Wave-1 of new Waves structure started from 15183.40 on 17-06-2022 after corrective Wave-C of "ABC correction" of previous waves structure completion at this level. Impulsive Wave-1 begun from this level which completed at 18887.60 on 01-12-2022 and from this level corrective Wave-2 started which completed at 16828.30 on 20-03-2023.
Impulsive Wave-(i) of Wave-3 begun from this level which completed at 20222.40 on 15-09-2023 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 started which completed at 19333.60 on 04-10-2023. Wave-B begun from this level which completed at 19849.80 on 17-10-2023 and Wave-C started which completed at 18837.80 on 26-10-2023. Impulsive Wave-(iii) of Wave-3 begun from this level which completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-A of Wave-(iv) of Wave-3 started from this level.
Corrective Wave-A of Wave-(iv) of Wave-3 completed at 23263.20 on 21-11-2024 and Wave-B of Wave-(iv) of Wave-3 begun from this levels which completed at 24792.30 on 13-12-2024 and from this levels corrective Wave-C of Wave-(iv) of Wave-3 started which is now in continuation with recent bottom formations at 21964.60 on 04-03-2025 and no confirmation of its completion yet on EOD charts.
Although Pull Back Rally begun from the lowest of on going correction which is now in continuation with recent top formations at 22676.60 on 10-03-2025 but last 13 Sessions sideways trading is also being seen between 21965-22676 therefore firstly sustaining beyond this range should also be watched in the coming week/weeks for the life and length of on going "ABC correction" of corrective Wave-(iv) of Wave-3.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (13-Mar-2025):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling from Over Over bought zone.
2- Stochastic:- %K(5)- 48.52 & %D(3)- 62.89.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.
4- MACD(26,12)- -315.25 & EXP(9)- -459.06 & Divergence- 143.81
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Short Term indicator Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that this indicator is showing signals of downward moves possibility in the coming week.
2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in negative zone therefore it will be understood that this indicator is signalling Short Term upward trend formations and resultant upward moves beginning possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (13-Mar-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 22475(Very Short Term Trend decider)
2- 21-Day SMA is today at 22608(Short Term Trend decider)
3- 55-Day SMA is today at 23112(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23592
5- 200-Day SMA is today at 24059(Long Term Trend decider)
Conclusions from EOD chart analysis
(Averages)
As Nifty has closed below all the SMAs last Thursday therefore it will be understood that all the Trends are down and 3 SMAs are in downward direction mode also hence it is confirm that on going "ABC" correction of Wave-(iv) of Wave-3 is in full force.
Nifty-Last 13 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Feb 24 to Mar 13,2025):-
Technical Patterns formation in last 13 Sessions intraday charts
1- Selling(Resistances) in last 13 Sessions are as follows:-
A- 22529-22552
B- 22557-22656
2- Consolidation(Supports) in last 13 Sessions are as follows:-
A- 22307-22375
B- 22239-22271
C- 21987-22142(Strong supports)
3- Last 13 Sessions sideways trading between 21965-22676
Conclusions from 13 Sessions
intra day chart analysis
52 Points(22668-22720) gap down opening on 24-02-2025 and after that last 13 sessions sideways trading was with above mentioned supports and resistances and these both are almost equally stronger also therefore Nifty will firstly trade between 21965-22676 and prepare for next bigger decisive moves/Trend within this range.
As this last 13 Sessions sideways trading is at the bottom of that on going that "ABC correction" which begun from 26277.30 on 27-09-2025 and now its Wave-C is in continuation with recent bottom formations at 21964.60 on 04-03-2025 therefore finally:-
1- Sustaining above this range(22676) will generate first signal of on going "ABC" correction completion at 21964.60 on 04-03-2025.
2- Sustaining below this range(21965) will mean on going "ABC correction" continuation which may be deeper also after more than 13 sessions trading range breaking down confirmations.
Conclusions (After putting
all studies together)
1- Long Term Trend is down.
2- Intermediate Term Trend is down.
3- Short Term Trend is down.
Impulsive Wave-(iii) of Wave-3 completed at 26277.30 on 27-09-2024 and from this level corrective Wave-A of Wave-(iv) of Wave-3 of "ABC" correction started. Now its corrective Wave-C is in continuation with recent bottom formations at 21964.60 on 04-03-2025 and no confirmation of its completion yet on EOD charts.
Averages are confirming that all the Trends are down. Although Short Term indicator Stochastic is indicating downward moves possibility but another Short Term indicator MACD is showing signals of Upward Trend formations also therefore possibility of fresh Upward moves beginning after some down moves can not be ruled out.
Pull Back Rally started from the lowest of on going "ABC" correction which is now in continuation with recent top formations at 22676.60 on 10-03-2025 and it is within last 13 Sessions sideways trading range also. As finally sustaining beyond last 13 sessions trading range(21965-22676) will generate one sided biggher decisive moves and confirm the life & length of on going corrective Wave-(iv) of Wave-3 also therefore it should be firstly watched in the coming week/weeks for next Trend formations and above mentioned next bigger moves beginning confirmations.