All Trends are down & sustaining
beyond Crucial levels/resistances
will confirm the life & length of
on going Pull Back Rally
Technical Analysis,Research & Weekly
Outlook(Mar 10 to Mar 14,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (07-Mar-2025):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C of "ABC" correction 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- Wave-A corrected 3014.1 points
5- Corrective Wave-B of Wave-(iv) of Wave-3 completion at 24857.80 on 05-12-2024.
6- Corrective Wave-C of Wave-(iv) of Wave-3 continuation with recent bottom formations at 21964.60 on 04-03-2025.
7- Wave-C corrected 2893.2 points
8- Pull Back Rally continuation with recent top formations at 22633.80 on 07-03-2025.
Conclusions from EOD chart analysis
(Waves structure)
Corrective Wave-C of "ABC" correction of Wave-(ii) of Wave-3 completed at 18837.80 on 26-10-2023 and from this level 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 from this level corrective Wave-A of "ABC" correction of Wave-(iv) of Wave-3 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 24857.80 on 05-12-2024 and from this levels corrective Wave-C of Wave-(iv) of Wave-3 begun 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. Pull Back Rally started from this level which is now continuation with recent top formations at 22633.80 on 07-03-2025 and no confirmation of its completion also.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (07-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 towards Over bought zone.
2- Stochastic:- %K(5)- 81.11 & %D(3)- 56.58.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -511.98 & EXP(9)- -418.71 & Divergence- -93.27
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 towards Over bought zone and have not turned Overbought also therefore it will be understood that this indicator is showing signals of some more upward moves possibility.
2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in negative zone therefore it will be understood that this indicator is confirming downward trend formations and resultant on going downward moves continuation possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (07-Mar-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 22327
2- 21-Day SMA is today at 22789
3- 55-Day SMA is today at 23203
4- 100-Day SMA is today at 23687
5- 200-Day SMA is today at 24068
Conclusions from EOD chart analysis (Averages)
As some recovery from the lower levels of on going correction was seen in last 4 sessions of previous week and Nifty has moved above 5-Day SMA but still below all the other higher Averages therefore its is clear that at present only Very Short Term Trend has moved up and all the other Trends are still down.
Nifty-Intra Day Chart Analysis
(07-Mar-2025)
Nifty-Intra Day Chart (07-Mar-2025):-
Technical Patterns formation in today intraday charts
1- Volatility in first 3 hours after negative opening
2- Selling between 22644-22702
3- Whole day actual trading between 22465-22633
Conclusions from intra day chart analysis
Although firstly downward moves after negative opening but after that sharp upward were seen and again sharp down from intraday higher levels therefore in this manner only intraday volatility developed in first 3 hours last Friday. As some selling was seen in last 3 hours therefore only first signal of some downward moves will be considered at this moment. As whole day trading was not completely one sided patterns formations therefore expected that Nifty will firstly prepare for next decisive moves within and near about last Friday trading range and finally sustaining it beyond will confirm next decisive moves beginning hence finally sustaining beyond last Friday trading range should be watched in the coming week for next decisive moves beginning 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.
"ABC" correction which started through its corrective Wave-A of Wave-(iv) of Wave-3 from 26277.30 on 27-09-2024 after impulsive Wave-(iii) of Wave-3 completion at this level is now in continuation through its Wave-C with recent bottom formations at 21964.60 on 04-03-2025 and no confirmation of its completion yet on EOD charts. Pull Back Rally which begun from the bottom of on going "ABC" correction is also in continuation with recent top formations at 22633.80 on 07-03-2025 and no confirmation of it also on EOD and intraday charts.
Averages are suggesting that only Very Short Term Trend has moved up and all the other Trends are still down and lot of confirmations are required for on going "ABC" correction completion and impulsive Wave-(v) of Wave-3 formations. Until Nifty will not sustain above Long Term Trend decider 200-Day SMA(today at 24068) till then on going correction completion and trend reversal will not get confirmations. Although now on going like Pull Back Rallies are a part of correction and may always be seen during on going correction but this Pull Back Rally started after almost 100% correction completion by Wave-C(corrected 2893.2 points) of Wave-A(corrected 3014.1 points) therefore if it sustain above following Crucial levels then on going correction completion signals will start to generate one by one:-
1- 50.0% Crucial Retracement Level of Wave-A- 22,557.50
2- Intermediate Term trend decider 55-Day SMA(today at 23203)
3- 38.2% Crucial Retracement Level of Wave-A- 23,435.40
4- Long Term Trend is down decider 200-Day SMA(today at 24068)
Although Short Term indicator MACD is confirming downward trend formations and on going downward moves continuation possibility but another Short Term indicator Stochastic is suggesting some more upward moves possibility therefore firstly following resistances should be watched in the coming week/weeks for the life and length of on going Pull back Rally:-
1- 22667-22705
2- 22894-22923
3- 23020-23085
4- 23178-23235
5- 23284-23348
6- 23577-23681
7- 23745-23807
As no confirmation of on going correction completion therefore if fresh downward moves starts then following next supports should also be watched one by one for next Very Short Term moves beginning:-
1- 22305-22347
2- 22224-22260
3- 22055-22106
4- 21884-22191
5- 21502-21582
6- 21417-21500
As all the Trends are down therefore firstly watch sustaining beyond above mentioned Crucial levels and resistances for the life and length confirmations of on going Pull Back Rally.
