Just watch levels for next Short Term Trend confirmations amid US-Iran tension

Technical Analysis,Research & Weekly Outlook

(Jan 06 to Jan 10,2019)

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (03-Jan-2020):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11760.20 on 28-08-2018 and corrective Wave-4 beginning
5- Corrective  Wave-4 completion at 10004.55 on 26-10-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 continuation with new life time high formation at 12293.90 on 20-12-2019.

Nifty-Intra Day Chart Analysis

 (03-Jan-2020)

Nifty-Intra Day Chart (03-Jan-2020):-

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Technical Patterns formation in today intraday charts

1- Whole day Down moves in Bullish Falling Channels
2- Sharp up in last half hour
3- Whole day actual trading between 12192-12265

Conclusions from EOD chart analysis 

All the trends are up and impulsive Wave-5 continuation with new life time high formation at 12293.90 on 20-12-2019 and no confirmation of its completion yet

Conclusions from intra day chart analysis

As Geo-Political tension developed last Friday morning after US killing Iran’s most powerful general in Baghdad airstrike therefore Crude oil jumpled,Dow Jones Futures fell more than 150 points down and all the Asian markets weakened hence Indian markets slipped after negative opening. 

Although most of the time down moves remained continued but were in Bullish Falling Channels therefore sharp recovery from lower levels was seen in last half hour.

As Whole day Down moves were in Bullish Falling Channels which is a consolidation pattern therefore technically signals of fresh rally above life time highest are alive.

Conclusions (After Putting All Studies Together)

As whole day last Friday market was negative news driven and coming week market will again react on next developments in this matter therefore 12160-12287 should be watched in next week for next trend confirmations because immediate supports and resistances are lying within this range and finally sustaining beyond this range will form next Short Term Trend after break out of following immediate supports/resistances:- 

1- Next supports are between 12160-1197 
2- Next resistances are between 12265-12287

Crude rates have a big impact on Indian economy which jumped 3.64% last Friday and closed at 3 months high and if tension escalates in Middle-East region then it will certainly push Crude price which will certainly hurt Indian economy and markets as well.

Although Indian Stock markets are technically well poised for further rally above life time highest(12293.90) but US-Iran clashes can not be ruled out in the coming weeks therefore firstly sustaining beyond 12160-12287 should be watched in the coming week for next Short Term Trend confirmations.

Firstly watch levels after Geo-Political tension development today morning

Pre-open Outlook(03-01-2020)

As Geo-Political tension mounted today morning after following negative news today morning therefore all the Asian markets slipped as well as Dow Jones Futures is also trading more than 150 points down hence weaker opening will be seen in Indian markets also and firstly sustaining beyond last resistance range(12265-12287) should be watched to understand this negative news impact on Indian markets

Iran says powerful general killed in US airstrike in Iraq

Rally continuation with new life time highest formation

Intra Day Chart Analysis & Market Outlook

(03-01-2020)

Nifty-Intra Day Chart (02-Jan-2020):-

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Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections
2- Whole day actual trading between 12196-12289

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Up moves towards next resistances":-

up moves are expected tomorrow towards next resistances(12265-12287)

As was told 100% same happened today and whole day up moves were seen towards next resistances(12265-12287) and Nifty closed today witin mentioned resistances at 12,282.20

As whole day up moves with intraday corrections and no selling patterns formations as well as today closing at life time highest therefore rally continuation will be seen with new life time highest formation tomorrow.

Up moves towards next resistances

Intra Day Chart Analysis & Market Outlook

(02-01-2020)

Nifty-Intra Day Chart (01-Jan-2020):-

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Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation between 12166-1197
3- Whole day actual trading between 12166-12222

Conclusions from intra day chart analysis 

As more than 5 hours selling yesterday therefore firstly down moves were seen after positive opening but those down moves were in Bullish Falling Channel and after that more than 4 hours consolidation developed between 12166-1197 hence up moves are expected tomorrow towards next resistances(12265-12287)

Down moves continuation expectations

Down moves continuation expectations

Intra Day Chart Analysis & Market Outlook

(01-01-2020)

Nifty-Intra Day Chart (31-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 12197-12240
2- Down moves in last hours
3- Whole day actual trading between 12152-12240

Conclusions from intra day chart analysis 

As more than 5 hours selling therefore down moves were seen in last hours and its continuation is expected in the coming sessions.

Levels will confirm next 
Short Term Trend

Intra Day Chart Analysis & Market Outlook

(31-12-2019)

Nifty-Intra Day Chart (30-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 12265-12286
2- Consolidation between 12214-12240
3- Whole day actual trading between 12214-12286

Conclusions from intra day chart analysis 

Following lines were told on 28-12-2019 in "Levels will confirm the life and size of on going previous week correction":-

Firstly sustaining beyond 12236-12293 should be watched in next week for next decisive moves beginning confirmations.

Although firstly selling(12265-12286) near the higher levels of above given range(12236-12293) but consolidation was also seen just below given range between 12214-12240 and today closing was also within given range at 12255.85 today therefore it will be understood that no one sided technical position formations and firstly Nifty has to trade and prepare for next decisive moves between 12214-12293 and finally sustaining beyond this range will confirm next Short Term Trend which should be firstly watched in the coming sessions.

Levels will confirm the life and size of on going previous week correction

Technical Analysis,Research & Weekly Outlook

(Dec 30,2019 to Jan 03,2020)

Nifty-EOD Chart Analysis (Waves structure)

Nifty-EOD Chart (27-Dec-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11760.20 on 28-08-2018 and corrective Wave-4 beginning
5- Corrective  Wave-4 completion at 10004.55 on 26-10-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 continuation with new life time high formation at 12293.90 on 20-12-2019.

Nifty-Last 5 Sessions intraday charts analysis

Nifty-Intra Day Chart (Dec 20 to Dec 27,2019):-

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Technical Patterns formation in last 5 Sessions intraday charts

1- 3 Sessions selling between 12236-12293 from 20 Dec to 24 Dec,2019
2- Whole day down moves with upward corrections on 26-12-2019
3- Whole day up moves with downward corrections on 27-12-2019
4- 5 Sessions actual trading between 12119-12293 

Nifty-Intra Day Chart Analysis (27-Dec-2019)

Nifty-Intra Day Chart (27-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections
2- Whole day actual trading between 12158-12258

Conclusions from EOD chart analysis 

All the trends are up and impulsive Wave-5 continuation with new life time high formation at 12293.90 on 20-12-2019 and no confirmation of its completion yet.

Conclusions from 5 Sessions intra day chart analysis 

Although Nifty closed at the top of the day last Friday but resistances are lying just above last Friday highest between 12236-12293 therefore firstly Nifty has to consolidate for decisive up moves above 12293. 

As Short Term Indicators are Over bought therefore fresh selling and sustaining below 12236 will mean Short Term correction beginning.

Firstly sustaining beyond 12236-12293 should be watched in next week for next decisive moves beginning confirmations.

Conclusions from intra day chart analysis 

As very short term indicators have turned over sold after whole day down moves on 26-12-2019 therefore Pull Back Rally was seen next day on 27-12-2019 which closed at the top of the day.

Last 2 sessions of previous week remained highly volatile between 12119-12258 and resistances are lying above last Friday highest as well as Very Short Term Indicators have also turned Over bought therefore firstly Nifty has consolidate for next up moves and sustaining above 12258 should be watched in the beginning of next week for first signal of up moves beginning.

Conclusions (After Putting All Studies Together)

Although Very Short Term correction of more than 1% was seen in previous week but strong up moves were also seen last Friday which closed within last resistances(12236-12293) of Nifty. 

As Bullish rally is continued in Indian markets therefore expected that finally rally will be seen after fresh consolidation within 12236-12293 but Short Term Indicators are slipping from Over bought zone therefore at present only a Short Term correction will be considered which may be sideways also.

Last 5 sessions trading between 12119-12293 with higher levels resistances and no supports at lower levels,this range will decide the life and size of on going previous week correction. Expected that Nifty will firstly trade and prepare for next moves within and near about this range and finally break out of this range will confirm fresh rally after sideways correction within this range or after little deeper correction below this range.

Finally more down moves amid a very short term Pull Back Rally possibility

Intra Day Chart Analysis & Market Outlook
(27-12-2019)

Nifty-Intra Day Chart (26-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Whole day down moves with upward corrections
2- Whole day actual trading between 12119-12221

Conclusions from intra day chart analysis 

Following lines were told on 25-12-2019 in "Down moves continuation expectations":-

down moves continuation is expected in the coming sessions.

As today closing was at lowest of the day after whole day down moves therefore a very short term Pull Back Rally may be seen because Very short term indicators have turned over sold but finally more down moves below today lowest are expected because lower levels consolidation patterns formations have not been seen yet.

Down moves continuation expectations

Intra Day Chart Analysis & Market Outlook

(26-12-2019)

Nifty-Intra Day Chart (24-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 12236-12283
2- Down moves in last hour
3- Whole day actual trading between 12203-12283

Conclusions from intra day chart analysis 

Following lines were told  on 23-12-2019 in "Firstly watch levels for next trend confirmations":-

1- last 2 Sessions trading between 12214-12293
2- firstly Nifty will trade and prepare for next decisive moves within and near about this range tomorrow
3- finally sustaining beyond this range will confirm next trend which should be firstly watched in the coming sessions.

Nifty traded more than 5 hours within mentioned range(12214-12293) with follow up selling between 12236-12283 last Tuesday and closed also below this range after slipping in last hour therefore down moves continuation is expected in the coming sessions.

Firstly watch levels for next trend confirmations

Intra Day Chart Analysis & Market Outlook

(24-12-2019)

Nifty-Intra Day Chart (23-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 12259-12287
2- Consolidation between 12214-12243
3- Sharp recovery in last hour
4- Whole day actual trading between 12214-12287

Conclusions from intra day chart analysis 

As most time selling between 12266-12293 last Friday therefore Nifty could not move above it today and follow up selling was also seen within it today hence down moves were seen in 3 last hours. 

Although sentiment turned much depressed during Mid-Session today due to BJP loosing Jharkhand Assembly election but consolidation developed amid this negative news and resultant sharp recovery was seen in last hour.

As last 2 Sessions trading between 12214-12293 with lower levels negative news led good support today and higher levels selling in last 2 sessions within it therefore firstly Nifty will trade and prepare for next decisive moves within and near about this range tomorrow and finally sustaining beyond this range will confirm next trend which should be firstly watched in the coming sessions.

More than 3% Short Term correction
 on cards   

Technical Analysis,Research & Weekly Outlook

(Dec 23 to Dec 27,2019)

Nifty-EOD Chart Analysis 

(Waves 5th  structure)

Nifty-EOD Chart (20-Dec-2019):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-i of Wave-5 beginning at 10004.55 on 26-10-2018 after Wave-4 completion
2- Wave-i of Wave-5 completion at 12103.00 on 03-06-2019 and corrective Wave-ii beginning
3- Corrective Wave-ii of Wave-5 completion at 10637.10 on 23-08-2019 and impulsive Wave-iii beginning
4- Impulsive Wave-iii of Wave-5 continuation with recent top formations at 12293.90 on 20-12-2019

Nifty-Last 2 Sessions intraday

 charts analysis

Nifty-Intra Day Chart (Dec 19 & Dec 20,2019)

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Technical Patterns formation in last 2 Sessions intraday charts

1- Whole day Up moves in Bearish Rising Channels on 19-12-2019
2- Most time selling between 12266-12293 on 20-12-2019
3- 2 Sessions actual trading between 12192-12293 

Conclusions from EOD chart analysis 

All the trends are up and impulsive Wave-iii of Wave-5 continuation with recent top formations at 12293.90 on 20-12-2019 and on EOD charts no confirmation of its completion yet.

Conclusions from 2 Sessions intra day chart analysis 

Although last 2 sessions positive closing was at life time highest with 50 points gains also but clear selling patterns formations were seen in both previous sessions therefore emergence of Short Term Correction possibility below last 2 sessions lowest(12192) in the beginning of next week.

Conclusions (After Putting All Studies Together)

Bullish rally is very much on with continuous new life time highest formations but Short Term indicators have turned overbought and last 2 sessions intraday charts are showing sufficiently good selling patterns formations also therefore Short Term correction will be seen in the beginning of next week which may result Nifty slipping more than 3% downwards.

Emergence of Short Term Correction possibility

Intra Day Chart Analysis & Market Outlook

(20-12-2019)

Nifty-Intra Day Chart (19-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Whole day Up moves in Bearish Rising Channels
2- Whole day actual trading between 12192-12268

Conclusions from intra day chart analysis 

Although today closing was at life time highest with 38 points gains also but whole day Up moves were in Bearish Rising Channels therefore emergence of Short Term Correction possibility below today lowest(12192) which may be seen in the next 1/2 sessions.

Rally Continuation with Very Short Term correction possibility

Intra Day Chart Analysis & Market Outlook

(19-12-2019)

Nifty-Intra Day Chart (18-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Whole day up moves with intraday corrections
2- Whole day actual trading between 12164-12237

Conclusions from intra day chart analysis 

As whole day up moves with intraday corrections therefore on going rally will remain continued but Very Short Term correction is imminent which may be seen any day because Short Term Indicators have become over bought.

Firstly watch levels for next up moves confirmations

Intra Day Chart Analysis & Market Outlook

(18-12-2019)

 Nifty-Intra Day Chart (17-12-2019):-

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Technical Patterns formation in today intraday charts

1- Slow up moves after positive opening
2- More than 5 hours trading with Mixed Patterns formation between 12121-12155
3- Slow up moves in last half hour
4- Whole day actual trading between 12071-12182

Conclusions from intra day chart analysis 

Following lines were told on 14-12-2019 in "Rally continuation towards its maximum target at 13870.95":-

up moves continuation towards next resistances(12120-12158) is expected in the beginning of next week.

Rally was seen today towards and above 12158 was seen today and closing was also at life time highest today but fresh consolidation is required for sustaining above today highest because more than 5 hours trading was with Mixed Patterns formations and up moves were slow.

As Short Term indicators have also turned over bought therefore Short Term correction may be seen any day and firstly sustaining beyond 12121-12155 should be watched in the coming sessions for next up moves confirmations.

As out of station therefore Stock Market Outlook of today(17-12-2019) will not be updated.

Rally continuation towards its maximum

 target at 13870.95

Technical Analysis,Research & Weekly Outlook

(Dec 16 to Dec 20,2019)

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (13-Dec-2019):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11760.20 on 28-08-2018 and corrective Wave-4 beginning
5- Corrective  Wave-4 completion at 10004.55 on 26-10-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 continuation with new life time high formation at 12158.80 on 28-11-2019 and no confirmation of its completion yet
7- Last 30 sessions sideways trading near life time highest between 11803-12158 

Nifty-Last 30 Sessions intraday charts analysis

Nifty-Intra Day Chart (Oct 31 to Dec 13,2019):-

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Technical Patterns formation in last 30 Sessions intraday charts

1- 30 Sessions sideways trading with lower levels supports and higher levels last 1 resistance
3- 30 Sessions actual trading between 11803-12158 

Nifty-Intra Day Chart Analysis 

(13-Dec-2019)

Nifty-Intra Day Chart (13-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Consolidation between 12024-12046
2- Whole day up moves with intraday corrections
3- Whole day actual trading between 12024-12098

Conclusions from EOD chart analysis 

All the trends are up and impulsive Wave-5 continuation with new life time high formation at 12158.80 on 28-11-2019 and no confirmation of its completion yet.

Conclusions from 30 Sessions intra day chart analysis 

30 Sessions like big sideways trading with new life time high formations also within it does indicate that finally sustaining beyond this range will generate a big one sided more than 10% move. As following supports and resistances are lying within this range therefore firstly sustaining it beyond should be watched in next week/weeks/months for 1st indication of those big moves beginning:-

Higher levels last 1 resistance within last 30 sessions trading range:-

1- 12120-12158

Lower levels next 3 supports within last 30 sessions trading range:-

1- 12024-12046
2- 11940-11964
3- 11820-11872

Conclusions from intra day chart analysis 

As most positive news of US-China trade deal therefore most Asian markets were blasting and Dow Jones Futures was also trading more than 100 points up last Friday morning hence firstly gap up opening of Indian markets and whole day up moves with intraday corrections. Selling patterns were not seen therefore up moves continuation towards next resistances(12120-12158) is expected in the beginning of next week.

Just click on Read more for next page:-

Up moves after consolidation

Intra Day Chart Analysis & Market Outlook

(13-12-2019)

Nifty-Intra Day Chart (12-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- More than 4 hours consolidation between 11940-11964
2- Slow up moves in last 2 hours
3- Slipping in last high hour
4- Whole day actual trading between 11935-12005

Conclusions from intra day chart analysis 

As most Asian markets were trading strong therefore positive opening and firstly more than 4 hours consolidation between 11940-11964 and some up moves were also seen after that. Although moving above 12000 but slipping in last high hour because up moves were slow therefore some sellling developed at higher levels near about 12000.

Lower levels good consolidation today therefore up moves towards next resistances(12038-12081) may be seen but higher levels some selling was also seen today therefore firstly Nifty has to trade and consolidate for these up moves near about today highest(12005) because only then these up moves will be seen.

Levels will confirm up moves continuation 

Intra Day Chart Analysis & Market Outlook

(12-12-2019)

Nifty-Intra Day Chart (11-Dec-2019):-

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Technical Patterns formation in today intraday charts

1- Selling between 11896-11906
2- Down moves in Bullish Falling Channels
3- Sharp recovery in last hour
4- Whole day actual trading between 11833-11923

Conclusions from intra day chart analysis 

As selling developed after opening therefore slipping but Down moves were in Bullish Falling Channels hence some consolidation developed and resultant sharp recovery in last hour. Both consolidation and selling patterns formations today therefore firstly sustaining above 11906 should be watched for today started up moves continuation confirmations.

As still busy therefore Stock Market Outlook of today(11-12-2019) is not being updated but Outlook of tomorrow(12-12-2019) will be posted positively.

As busy therefore Stock Market Outlook of tomorrow(10-12-2019) will not be updated.