Finally sustaining beyond 23035-24068 will confirm all the Trends formations
Technical Analysis,Research & Weekly Outlook
(Mar 24 to Mar 28,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (21-Mar-2025):-
Technical Patterns and Formations in EOD charts
1- Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning.
2- 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.
3- Corrective Wave-A of Wave-(iv) of Wave-3 completion at 23263.20 on 21-11-2024.
4- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
5- Strong indications of corrective Wave-C of Wave-(iv) of Wave-3 completion at 21964.60 on 04-03-2025 and impulsive Wave-(v) of Wave-3 beginning.
6- Last 14 Sessions sideways trading range(21965-22676) forcefully broken out on 18-03-2025.
7- Pull Back Rally continuation with recent top formations at 23402.70 on 21-03-2025.
Conclusions from EOD chart analysis
(Waves structure)
Wave-C of Wave-(ii) of Wave-3 completed at 18837.80 on 26-10-2023 and from this level impulsive Wave-(iii) of Wave-3 started 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 of "ABC" correction begun.
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 started 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 begun is now in continuation with recent bottom formations at 21964.60 on 04-03-2025 but strong indications of its completion and impulsive Wave-(v) of Wave-3 beginning developed because:-
1- Pull Back Rally which begun from the lowest of Wave-C is forcefully continuation with 1438 points gains.
2- Last 14 Sessions sideways trading range(21965-22676) forcefully broken out on 18-03-2025.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (21-Mar-2025):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising in Over bought zone.
2- Stochastic:- %K(5)- 95.53 & %D(3)- 90.85.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive and negative zone.
4- MACD(26,12)- 89.43 & EXP(9)- -214.73 & Divergence- 304.16
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 upward and its both lines are rising in Over bought zone therefore it will be understood that this indicator is completely Over bought and may show first signal of Short Term correction beginning signal through downward intersection then Short Term correction will be seen in the coming week/weeks.
2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive and negative zone therefore it will be understood that this indicator is signalling Short Term upward trend formations and resultant on going upward moves continuation possibility also.
Nifty-Weekly Chart Analysis
(Stochastic & MACD)
Nifty-Weekly Chart (21-Mar-2025):-
Technical Patterns and Formations in Weekly charts
1- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising from Over sold zone.
2- Stochastic:- %K(5)- 51.75 & %D(3)- 28.37.
3- In MACD- Its both MACD line and Average line are kissing in negative zone.
4- MACD(26,12)- -737.59 & EXP(9)- -743.78 & Divergence- 06.19
Conclusions from Weekly chart analysis
(Stochastic & MACD)
Technical positions of Intermediate Term indicators are as follows:-
1- As in Intermediate Term indicator Stochastic %K(5) line has intersected %D(3) line upward and its both lines are rising from Over sold zone therefore it will be understood that this indicator is showing on going upward moves continuation possibility which will be seen amid Very Short Term and Short Term corrections.
2- As in MACD indicator its both MACD line and Average line are kissing in negative zone therefore it will be understood that this indicator is signalling Short Term upward trend formations and resultant on going upward moves continuation possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (21-Mar-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 22958(Very Short Term Trend decider)
2- 21-Day SMA is today at 22603(Short Term Trend decider)
3- 55-Day SMA is today at 23035(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23521
5- 200-Day SMA is today at 24068(Long Term Trend decider)
Conclusions from EOD chart analysis (Averages)
Short Term Trend is up and Intermediate Term Trend turning upward possibility has increased also after Nifty moving above forcibly its decider 55-Day SMA in previous week. As Nifty closed well below Long Term Trend decider 200-Day SMA therefore Long Term Trend is down. Nifty is now between Intermediate Term and Long Term Trend deciders therefore finally sustaining beyond both these deciders 55-Day SMA and 200-Day SMA should be watched in the coming week/weeks because it will confirm on going "ABC" correction completion above 200-Day SMA or correction continuation below 55-Day SMA
Nifty-Intra Day Chart Analysis
(21-Mar-2025)
Nifty-Intra Day Chart (21-Mar-2025):-
Technical Patterns formation in today intraday charts
1- Firstly 58 points down after negative opening and after that upward moves beginning.
2- More than 4 hours trading with Mixed Patterns formation between 23283-23403
3- Whole day trading between 23133-23403
Conclusions from intra day chart analysis
Although firstly 58 points down after negative opening but strong recovery from lower levels was seen after fresh upward moves beginning and Nifty moves up 300 points from lower levels as well as closed 0.69% also. As more than 4 hours trading was with Mixed Patterns formation between 23283-23403 also therefore firstly sustaining beyond this range should also be watched in the beginning of next week for next immediate decisive moves beginning confirmations.
Conclusions
(After putting all studies together)
1- Long Term Trend is down.
2- Intermediate Term Trend is at stake.
3- Short Term Trend is up.
Although no confirmation of Wave-C of Wave-(iv) of Wave-3 completion at 21964.60 on 04-03-2025 but strong indications of its completion and impulsive Wave-(v) of Wave-3 beginning has emerged at this level because the Pull Back Rally which started from this level has shown following indications of Wave-C of Wave-(iv) of Wave-3 completion at this level:-
1- Last 14 Sessions sideways trading range(21965-22676) forcefully broken out on 18-03-2025.
2- Pull Back Rally forcefully continuation with 1438 points gains.
3- Forcefully moving above Intermediate Term Trend decider 55-Day SMA.
4- Long White Weekly Candle formations in previous week.
Intermediate Term indicator Stochastic is suggesting that on going rally will remain continued but Short Term Stochastic is completely Over bought therefore showing signals of Short Term correction beginning possibility. Conclusion from Stochastic is that finally upward moves will be seen after Short Term correction correction completion which may be sideways also. As in Intermediate Term indicator MACD its both MACD line and Average line are kissing in negative zone therefore if its upward intersection happens then it will be strong indication of Trend reversal and Intermediate Term Trend turning upward also therefore after that strong rally will be seen because both lines of Short Term MACD are already rising in positive and negative zone.
As more than 4 hours trading was with Mixed Patterns formation last Friday and Short Term indicator Stochastic is completely Over bought therefore Short Term correction may be seen and that may be Sideways also but firstly sustaining beyond Intermediate Term Trend decider 55-Day SMA (today at 23035) should be watched for the life and length of expected Short Term correction. Finally sustaining beyond Intermediate Term Trend decider 55-Day SMA(today at 23035) and Long Term Trend decider 200-Day SMA(today at 24068) should be watched in the coming week/weeks for next next Trend formation and next decisive moves beginning confirmation accordingly.