Levels will confirm next big moves amid US Bond yield led huge volatility

Technical Analysis,Research & Weekly Outlook

(Mar 08 to Mar 12,2021)

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (05-Mar-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020 and corrective Wave-2 beginning

3- Wave-1 gained 4283.20 points

4- Corrective Wave-2 completion at 10790.20 on 24-09-2020 and Impulsive Wave-3 beginning

5- Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021

7- Wave-3 has gained 4641.60 points which are more than Wave-1 gained

8- Correction continuation with recent last Friday bottom formation at 14467.75 on 26-02-2021 which is below last 24 sessions lowest.

9- Last 24 sessions sideways trading between 14468-15421

Conclusions from EOD chart analysis(Waves structure)

Impulsive Wave-3 continuation and no confirmation of its completion yet but indications of its completion after new life time highest top formation at 15431.8 on 16-02-2021 because:-

1- last Friday closing is below Short Term averages(5,13,and 21 SMA) 

2- Last 24 sessions sideways trading between 14468-15421 with higher levels good intraday selling within this range.

3- As Wave-3 has gained more points than Wave-1 then it may correct to form Wave-4.

Nifty-EOD Chart Analysis 

(Wave-3 Fibonacci retracement )

Nifty-EOD Chart (05-Mar-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-2 completion at 10790.20 on 24-09-2020 and Impulsive Wave-3 beginning

2- Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021

Conclusions from EOD chart analysis (Wave-3 Fibonacci retracement Fibonacci retracement levels)

Wave-3 correction beginning confirmation will mean its continuation according to following Fibonacci Retracement levels of Wave-3(10790.20-15431.8):-

1- 13.0%- 14,828.40(Corrected)

2- 23.6%- 14,336.34

3- 27.0%- 14,178.60

4- 38.2%- 13,658.68(Crucial)

5- 50.0%- 13,110.97(Crucial)

6- 61.8%- 12,563.27(Crucial)

7- 70.7%- 12,150.20

8- 76.4%- 11,885.60

9- 78.6%- 11,783.50 

10-88.6%- 11,319.30 

Nifty-EOD Chart Analysis (Stochastic)

Nifty-EOD Chart (05-Mar-2021):-

Technical Patterns and Formations in EOD charts

1- Stochastic %K(5) is at 73.29 & %D(3) is at 73.10

2- Stochastic is showing negative divergence from over bought zone through moving down when Nifty is moving up.

3- Last 24 sessions sideways trading between 14468-15421

Conclusions from EOD 

chart analysis (Stochastic)

As Stochastic is showing negative divergence from over bought zone therefore signalling Short Term Correction and its beginning confirmation will be after sustaining below last 24 sessions sideways trading range lowest(14468).

Nifty-Last 25 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Febr 01 to Mar 05,2021):-

Technical Patterns formation in last 25 Sessions intraday charts

1- Union-Budget day rally on 01-02-2021

2- Last 24 sessions sideways trading between 14468-15421

3- Selling(Resistances) in last 24 Sessions are between:-

A- 15007-15092  

B- 15145-15196

C- 15213-15245 

D- 15274-15315

E- 15335-15431  

3- Consolidation(Supports) in last 24 Sessions are sessions:-

A- 14788-14855

B- 14663-14742

C- 14504-14615

Supports below last 24 sessions trading range are as follows:-

 

A- 13817-13865 

B- 13725-13776

C- 13606-13701

Conclusions from 25 Sessions 

intra day chart analysis 

Strong 701 points rally was seen on Union-Budget day(01-02-2021) and after that Nifty traded sideways last 24 sessions between 14468-15421. 

As above mentioned 5 resistances and 3 supports exists in last 24 sessions trading range therefore expected that Nifty will firstly trade and prepare for next trend within this range and finally sustaining beyond last 24 sessions trading range(14468-15421) will generate big moves which will be seen in next week/weeks.

Nifty-Intra Day Chart Analysis

(05-Mar-2021)

Nifty-Intra Day Chart (05-Mar-2021):-

Technical Patterns formation in today intraday charts

1- 4 Hours selling between 15007-15092(immediate Resistances)

2- Sharp fall

3- Up moves in Bearish Rising Channels 

4- Whole day actual trading between 14863-15092

Conclusions from intra day chart analysis 

As firstly 4 Hours selling between 15007-15092 therefore sharp fall was seen after that. Although some up moves were seen in last hour but in  Bearish Rising Channels hence these up moves will be understood follow up selling. 

Immediate resistances of Nifty have been developed between 15007-15092 last Friday and until Nifty will not sustain above 15092 after complete consolidation till then decisive up moves will not be seen. 

As last Friday whole day trading will be understood with selling patterns formations therefore sustaining below 14863 will mean sharp fall towards next supports.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is sideways between 14468-15421.

Nifty has turned sideways for the last 24 sessions between 14468-15421 after Union-Budget day(01-02-2021) strong 701 points rally and finally sustaining beyond this range will form following next trend:-

1- Above 15421 will mean strong rally but complete consolidation is firstly required because multiple resistances are lying below it.

2- Below 14468 will mean Short Term correction continuation towards above given next supports and Fibonacci Retracement levels of Wave-3(10790.20-15431.8).

As intraday charts of last Friday are showing good selling therefore firstly some down moves are expected in the beginning of next week hence sustaining beyond next supports should be firstly watched in next week. 

US Bond yield led huge volatility is being seen in all the Global and Indian markets and finally sustaining beyond last 24 sessions trading range(14468-15421) will confirm its impact on Indian markets which should be watched for next big moves confirmations.

 Firstly watch levels amid Global 

markets led huge volatility

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-03-2021)

Nifty-Intra Day Chart (04-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Global cues led whole day only intraday volatility

2- Whole day actual trading between 14981-15202

Conclusions from intra day chart analysis 

As Global markets led too much depressed sentiments today morning therefore firstly weaker opening of Indian markets and after that whole day only intraday volatility and as such one sided trading positions formations were not seen therefore firstly sustaining beyond following immediate supports and resistances should be watched tomorrow for next trend confirmations because Dow Jones which was trading more than 200 points up 2 hours before is now trading more than 390 points down also:-

Supports:-

1- 15062-15081

2- 15016-15034

3- 14788-14855(Strong supports)

   

Resistances:-

1- 15274-15315

2- 15335-15431 

 Down moves towards next supports after Global markets led depressed sentiments

Pre-open Outlook(04-03-2021)

As Bond yield increased in USA yesterday therefore Dow Jones futures is trading in Red today morning after negative closing yesterday hence all the Asian markets are trading 1% to 1.60% weak today and resultant now SGX Nifty is also more than 220 points down.

As Global markets led such depressed sentiments today morning therefore firstly down moves will be seen in Indian markets also towards following next supports and sustaining beyond should be firstly watched today:-

1- 15062-15081

2- 15016-15034

3- 14788-14855(Strong supports)

 Rally continuation towards next resistances 

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-03-2021)

Nifty-Intra Day Chart (03-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 14996-15273

Conclusions from intra day chart analysis 

As whole day up moves with downward corrections after gap up opening and intraday selling patterns were not seen therefore on going rally continuation will be considered towards following next resistances.

1- 15274-15315

2- 15335-15431 

 Sustaining above 14919 will mean sharp up

Nifty-Intra Day Chart Analysis & 

Market Outlook(03-03-2021)

Nifty-Intra Day Chart (02-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels

2- 160 Points sharp fall

3- Down moves in Bullish Falling Channel

4- Consolidation between 14788-14855

5- Sharp up in last hour

6- Whole day actual trading between 14751-14959

Conclusions from intra day chart analysis 

Although firstly Up moves after gap up opening but in Bearish Rising Channels therefore 160 points sharp fall. As these Down moves in Bullish Falling Channel and after that more than 2 hours lower levels consolidation therefore sharp up in last hour.

Resistances between 14856-14919 were updated on 28-02-2021 and consolidation was seen below it today therefore Nifty moved above it but closed at 14919.10 and sustaining above 14919 is must for fresh rally because gap resistances above it are still up to 15065.

As good consolidation between 14788-14855 today therefore until complete selling will not develop till then decisive down moves will not be seen below 14788 and fresh consolidation tomorrow with sustaining above 14919 will mean sharp up towards 15065 which should be firstly watch tomorrow.

Live proofs of our Levels accuracy

Following lines were told at 11:57 PM yesterday in "Firstly watch 14919 amid Bullish Global cues sentiments led up moves":-

1- firstly sustaining beyond next resistance range(14856-14919) should be watched tomorrow. 

2- Until Nifty will not sustain above 14919 till then decisive up moves will not be considered

Firstly watch 14919

 was told yesterday

 & 

today closing is at 

14919.10

 Firstly watch 14919 amid Bullish Global cues sentiments led up moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-03-2021)

Nifty-Intra Day Chart (01-Mar-2021):-

Technical Patterns formation in today intraday charts

1- Sharp up

2- Selling between 14777-14806

3- Sharp down

4- Consolidation between 14639-15708

5- Selling between 14753-14774

6- Up moves in Bearish Rising Channel

7- Whole day actual trading between 14639-14806

Conclusions from intra day chart analysis 

As Dow Jones futures was trading more than 200 points up today morning therefore all the Asian markets were more than 1% up and resultant strong opening of Indian markets and closed 01.60% up because ta the time of Indian markets closing Dow Jones futures was trading more than 300 points up and all the European markers more than 1% up.

Although Global cues led 01.60% Green closing today but higher levels some selling was also seen after lower levels consolidation and today trading will be understood with  Mixed Patterns formation.  

As Dow Jones is now trading more than 600 points up and such storng closing will mean Bullish sentiment tomorrow morning and then firstly sustaining beyond next resistance range(14856-14919) should be watched tomorrow. Until Nifty will not sustain above 14919 till then decisive up moves will not be considered because some selling patterns were seen today and up moves are only due to Bullish Global cues sentiments led.

 Firstly watch 14635-14696 for next Short Term moves confirmations

Post-open Outlook(01-03-2021)

As Bond yield decreased in USA therefore Dow Jones futures is trading more than 200 points up since today morning hence all the Asian markets are more than 1% up and resultant strong opening of Indian markets.

Immediate next resistances are between 14635-14696 and Nifty hovered around it in first half hour today,firstly sustaining it beyond should be watched today for next Short Term moves confirmations.

Correction continuation towards much deeper supports

Technical Analysis,Research & Weekly Outlook

(Mar 01 to Mar 05,2021)

Nifty-EOD Chart Analysis (Waves structure)

Nifty-EOD Chart (26-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020 and corrective Wave-2 beginning

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020 and Impulsive Wave-3 beginning

4- Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021

5- Correction continuation with recent last Friday bottom formation at 14467.75 on 26-02-2021 which is below last 19 sessions lowest.

Conclusions from EOD chart analysis 

(Waves structure)

Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021 because recent last Friday bottom formation formation below last 19 sessions lowest.

Nifty-EOD Chart Analysis (Averages)

Nifty-EOD Chart (26-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 7511.10 on 24-03-2020

2- Impulsive Wave-3 completion indications at 15431.8 on 16-02-2021

3- Correction continuation with recent bottom formation at 14467.75 on 26-02-2021

4-Averages

A- 5-Day SMA is today at 14798

B- 13-Day SMA is today at 15028

C- 21-Day SMA is today at 14893

D- 55-Day SMA is today at 14364

E- 200-Day SMA is today at 12126 

Conclusions from EOD chart analysis (Averages)

As last Friday closing was below 5,13 and 21 SMA therefore indications of Indian markets weakness deepening and firstly sustaining beyond 55-Day SMA(14364) should be watched in next week for the life of on going correction.

Nifty-Weekly Chart Analysis (Stochastic)

Nifty-Weekly Chart (26-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 7511.10 on 24-03-2020

2- Impulsive Wave-3 completion indications at 15431.8 on 16-02-2021

3- Correction continuation with 2 continuous weekly Black Candles formation

4- Stochastic %K(5) is at 73.54 & %D(3) is at 75.03

5- %K(5) intersected %D(3) downward 

6- Stochastic is showing negative divergence in over bought through moving down when Nifty is moving up.

Conclusions from Weekly chart

analysis (Stochastic)

Correction is very much on and indications of more down moves because:-

1- 2 weekly Black Candles formation continuously.

2- Above mentioned No 5 & 6 developments on Weekly Stochastic. 

Nifty-Last 20 Sessions intraday 

charts analysis

Nifty-Intra Day Chart (Feb 01 to Feb 26,2021):-

Technical Patterns formation in last 20 Sessions intraday charts

1- Union-Budget day rally on 01-02-2021

2- Last 19 sessions trading between 14468-15421

3- Selling(Resistances) in last 19 Sessions are between:-

A- 14635-14696 

B- 14856-14919 

C- 15125-15176

D- 15213-15245 

E- 15274-15315

F- 15335-15431  

3- Consolidation(Supports) in last 20 Sessions are sessions:-

A- 14504-14615(Last Friday closing was within at 14529.15) 

B- 13817-13865 

C- 13725-13776

D- 13606-13701

Conclusions from 20 Sessions 

intra day chart analysis 

Strong 701 points rally was seen on Union-Budget day(01-02-2021) and after that Nifty traded last 19 sessions of Feb 2021 between 14468-15421. As good selling in last 9 sessions therefore last Friday closing was near 19 previous sessions lowest. 

As multiple resistances have developed in last 9 sessions therefore expected that more down moves will be seen towards above mentioned supports in next week.  

Nifty-Intra Day Chart Analysis(26-Feb-2021)

Nifty-Intra Day Chart (26-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 14856-14919

2- Down moves

3- Selling between 14635-14696

4- Down moves

5- Whole day actual trading between 14468-14919

Conclusions from intra day chart analysis 

As first 2 hours selling after gap down opening therefore after that down moves were seen. Again follow up selling in last hours hence closing at lowest of the day after last half hour down moves.

Whole day selling last Friday and no consolidation therefore correction continuation is expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is down.

As last Friday closing was below short term Averages and Weekly Stochastic is also suggesting more down moves therefore last 2 weeks old correction continuation is expected in next week. Remain cautious also because once sustaining below 14468 will mean sharp fall because it will be breaking down confirmation of 19 sessions trading range and next supports are much below it.

55-Day SMA is today at 14364 and sustaining below it will mean Intermediate Term Trend turning down confirmation which indicates correction life from 3 weeks to 3 months therefore this levels should be firstly watched in next week for the period of on going correction.

As good intraday selling in last 9 sessions and no consolidation last Friday therefore on going correction will remain continued towards above mentioned supports which are much deeper. 

 Down moves towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(26-02-2021)

Nifty-Intra Day Chart (25-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15130-15170

2- Selling between 15125-15176

3- Consolidation between 15066-15094

4- Whole day actual trading between 15066-15176

Conclusions from intra day chart analysis 

Pull Back Rally was told from 23-02-2021 and after that more than 450 points strong rally was seen in last 3 sessions. 

Although lower levels some consolidation but higher levels good selling therefore firstly sustaining below today lowest(15066) should be watched tomorrow for the completion confirmation of that rally which started on 23-02-2021.

As next supports below today lowest are between 14652-14763 therefore expected down moves will be considered towards these supports.

 As busy therefore Stock Market Outlook of today(25-02-2021) is not being updated.

Levels will confirm next decisive moves

 Nifty-Intra Day Chart Analysis & 

Market Outlook(24-02-2021)

Nifty-Intra Day Chart (23-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Volatility in first 2 hours

2- More than 4 hours sideways trading between 14675-14787

3- Whole day actual trading between 14652-14854

Conclusions from intra day chart analysis 

Following conclusive line was told at 07:55 AM on 23-02-2021 in "Pull Back Rally expectations":-

Pull Back Rally will be considered

As was told 100% same happened and Nifty moved up 179 Points in first 30 minutes today.

Although more than 200 points volatility in first 2 hours but after that quiet market and more than 4 hours sideways trading between 14675-14787. 

As consolidation patterns were also seen in last 4 hours sideways trading therefore until complete selling patterns will not develop till then Nifty will not sustain below today lowest. Follow up consolidation tomorrow will mean strong rally and it is expected also. 

Expected that Nifty will firstly trade and prepare for next decisive moves between 14675-14787 and finally sustaining it beyond will confirm following next decisive moves:-

1- Below 14675 will mean correction towards next supports(14504-14615)

2- Above 14787 will mean Pull Back rally continuation above today highest.

 Pull Back Rally expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-02-2021)

Nifty-Intra Day Chart (01-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- Down moves in Bullish Falling Channel in last 45 minutes

3- Whole day actual trading between 14636-15010

Conclusions from intra day chart analysis 

Following lines were told on 20-02-2021 in "Firstly watch next supports for the life of on going correction":-

1- More down moves expectations in next week

2- correction continuation towards following those next supports which were posted in previous weekly Outlook also:-

1- 14811-14913

2- 14717-14765

3- 14504-14615

As was told 100% same happened and correction remained continued below 2nd supports in the beginning of this week.

As whole day down moves with upward corrections are suggesting that continuous selling development hence more than 2% down moves were seen after positive opening.

Although closing was near the lower levels of the day but last 45 minutes down moves in Bullish Falling Channel therefore Pull Back Rally will be considered because Very Short Term indicators have also turned Oversold after last 5 sessions down moves.

Firstly watch next supports for 

the life of on going correction 

Technical Analysis,Research & Weekly Outlook

(Feb 22 to Feb 26,2021)

Live Proofs of our accuracy

Following lines were told in previous Weekly Outlook on 13-02-2021 in "Firstly watch levels amid Short term correction possibility"

1- Short term correction possibility below 14977

2- sustaining below 14977 will mean correction beginning towards following supports:- 

1- 14811-14913

2- 14717-14765

3- 14504-14615

As was told 100% same happened and:-

1- Topic name was "Short term correction possibility" and continuous down moves were seen in last 4 sessions as well as previous weekly closing was negative. 

2- Short term correction was seen below 14977 last Friday.

3- Nifty got supports last Friday within above mentioned 1st supports range(14811-14913) at 14898.20 .

"Short term correction possibility" was told on 13-02-2021 & previous weekly closing was negative after last 4 sessions down moves.

 

Nifty-Weekly Analysis (Waves structure)

Nifty-Weekly Chart (19-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020 and corrective Wave-2 beginning

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020 and Impulsive Wave-3 beginning

4- Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021

5- Bearish Engulfing weekly candle formation in previous week.

Conclusions from Weekly chart analysis(Waves structure)

Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021 because Bearish Engulfing weekly candle formation in previous week.

Nifty-EOD Chart Analysis 

(Averages & Stochastic)

Nifty-EOD Chart (19-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-3 completion indications after new life time highest top formation at 15431.8 on 16-02-2021

2-Averages

A- 5-Day SMA is today at 15187  

B- 13-Day SMA is today at 15093 

C- 21-Day SMA is today at 14750 

D- 55-Day SMA is today at 14231 

E- 200-Day SMA is today at 11986

3- 10 Previous sessions sideways trading between 14977-15431

4- 10 Sessions trading range broken down on 19-02-2021

5- Stochastic- %K(5) is at 22.13 & %D(3) is at 44.13

6- %K(5) has intersected downward %D. 

 

Conclusions from EOD chart analysis 

Averages & Stochastic)

10 Previous sessions sideways trading between 14977-15431 and this range was forcefully broken down on 19-02-2021 but closing was within it at 14981.75 therefore breaking down confirmation is still required.

As previous weekly closing was below  5-Day and 13-Day SMA therefore indications of Wave-3 completion at 15431.8 on 16-02-2021.

%K(5) has intersected downward %D in Stochastic and and both lines are moving down towards Oversold zone therefore indications of more down moves in next week.

Nifty-Last 10 Sessions intraday charts analysis

Nifty-Intra Day Chart (Feb 08 to Feb 19,2021):-

Technical Patterns formation in last 10 Sessions intraday charts

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

A- 15031-15144 

B- 15213-15245 

C- 15274-15315

D- 15335-15431  

2- 10 Sessions sideways trading between 14977-15431  

3- 10 Sessions trading range broken down on 19-02-2021

Conclusions from 10 Sessions 

intra day chart analysis 

As good selling in last 4 sessions therefore 10 previous sessions sideways trading range(14977-15431) was forcefully broken down on 19-02-2021 but closing was within it at 14981.75 therefore its breaking down confirmation is still required.

Sustaining below 14977 will mean last 10 sessions trading range breaking down confirmation and that will mean more decisive down moves therefore should be firstly watched in next week.

Nifty-Intra Day Chart Analysis

(19-Feb-2021)

Nifty-Intra Day Chart (19-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15031-15144

2- Sharp fall

3- Down moves in Bullish Falling Channel

4- Sharp up

5- Whole day actual trading between 14899-15144

Conclusions from intra day chart analysis 

As more than 4 hours selling between 15031-15144 therefore sharp fall was seen but after that some consolidation at lower levels through Down moves in Bullish Falling Channel hence sharp up moves in last half hour. 

Firstly sustaining beyond last Friday lowest(14899) should be watched in the beginning of next week because some consolidation was seen above it last Friday and once its breaking down confirmation will mean more decisive down moves beginning towards next supports.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is sideways between 14977-15257 and will be down after sustaining below 14977.

As following reasons therefore more down moves are expected in next week:-

1- Higher levels good intraday selling in last 4 sessions and only minor consolidation at lower levels last Friday

2- Previous weekly closing was below 13-Day SMA which is a weakness indication

3- Stochastic indicator has not turned over sold and its both lines are moving down towards it

More down moves expectations in next week and once sustaining below last 10 sessions lowest(14977) will mean 10 sessions trading range breaking down confirmation which will open the doors of correction continuation towards following those next supports which were posted in previous weekly Outlook also:-

1- 14811-14913

2- 14717-14765

3- 14504-14615

As Nifty got support within above mentioned 1st supports range(14811-14913) at 14898.20 last Friday therefore firstly sustaining it beyond and after that sustaining beyond next 2 supports ranges should be watched one by one in next week for the life of on going correction. 

 As out of station and busy in a marriage therefore Stock Market Outlook of today(19-02-2021) is not being updated.

 As out of station and busy therefore Stock Market Outlook of today(18-02-2021) is not being updated.

 Fresh selling will mean correction towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(17-02-2021)

Nifty-Intra Day Chart (16-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15388-15431

2- Selling between 15335-15367

3- Down moves in Bullish Falling Channels

4- Sideways trading between 15298-15324

5- Whole day actual trading between 15243-15431

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally continuation":-

1- rally continuation will be seen and 

2- until Nifty will not sustain below 15267 after complete selling patterns till then any correction will not be seen.

As was told 100% same happened and and:-

1- Rally gained 117 points in first 20 minutes today.

2- Nifty could not sustain below 15267 and moved up 88 points after lowest formation at 15242.20

Although sharp up after gap up opening but good selling at higher levels therefore down moves remains continued till 02:00 pm. As negative zone down moves were in Bullish Falling Channels therefore lower levels supports developed hence 88 points recovery from lower levels and flat closing after last hour sideways trading between 15298-15324.

Whole day sideways trading was between 15267-15325 yesterday and today lower levels supports plus last hour sideways trading was also within this range therefore this range has become crucial for next decisive moves confirmations. 

As good selling above 15325 today therefore if fresh selling develops between and near about 15243-15325 in the coming sessions then decisive down moves will be seen towars following next supports and its confirmation will be valid break down of 15243:- 

1- 15106-15135

2- 15007-15065

Rally continuation

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-02-2021)

Nifty-Intra Day Chart (15-Feb-2021):-

Technical Patterns formation in today intraday charts

1- 120 Points jumped in first 10 seconds

2- Whole day sideways trading between 15267-15325

3- Whole day actual trading between 15244-15340

Conclusions from intra day chart analysis 

As Dow Jones Futures was more than 140 points up and most Asian were trading more than 1.34% up today morning therefore sentiment was heated and resultant Nifty jumped 120 Points in first 10 seconds after gap up opening.

Almost whole day sideways trading between 15267-15325 and closing also within it despite some up movs above it in last 10 minutes. 

As consolidation patterns were also between 15267-15325 therefore rally continuation will be seen and until Nifty will not sustain below 15267 after complete selling patterns till then any correction will not be seen.

 Firstly watch levels 

amid Short term correction possibility

Technical Analysis,Research & 

Weekly Outlook(Feb 15 to Feb 19,2021)

Live Proofs of our accuracy

Following topic was updated in previous Weekly Outlook on 06-02-2021

Tax free Union-Budget led Rally continuation above 15000

Rally continuation above 15000 was told and 100% same happened in previous week in following manner:-

1- Nifty closed above 15000 in all 5 sessions of previous week.

2- Nifty traded most time above 15000 between 14977-15257 in previous week.

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (12-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020 and corrective Wave-2 beginning

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020 and Impulsive Wave-3 beginning

4- Impulsive Wave-3 continuation with new life time highest top formation at 15257.10 on 09-02-2021

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-3 continuation with recent top formation at 15257.10 on 09-02-2021 and no indication of its completion yet.

Nifty-EOD Chart Analysis(Stochastic)

Nifty-EOD Chart (12-Feb-2021):-

Technical Patterns and Formations in EOD charts

1- Wave-3 continuation with new life time highest top formation at 15257.10 on 09-02-2021

2- Last 5 sessions trading between 14977-15257

3- Stochastic- %K(5) is at 72.45 & %D(3) is at 76.75

4- Stochastic is showing negative divergence in over bought through moving down when Nifty is moving up 

Conclusions from EOD chart analysis(Stochastic)

Although Wave-3 continuation with new life time highest top formation at 15257.10 on 09-02-2021 but Short term indicator Stochastic is showing short term correction possibility through:-

1- Slipping form  over bought zone.

2- Showing negative divergence through Stochastic moving down when Nifty is moving up

3- %K(5) has intersected downward %D. 

Last 5 sessions trading was between 14977-15257 which is at the top of rally and Stochastic is showing short term correction possibility therefore once sustaining below 14977 will mean short term correction beginning which should be firstly watched in next week.

Nifty-Last 5 Sessions intraday charts analysis

Nifty-Intra Day Chart (Feb 08 to Feb 12,2021):-

Technical Patterns formation in last 5 Sessions intraday charts

1- Selling(Resistances) in last 5 sessions are between:-

A- 15193-15257

2- Consolidation(Supports) in last 5 sessions are sessions:-

A- 15007-15065

B- 15106-15135

3- Sideways trading in last 5 sessions are between:- 

4- 5 Sessions actual trading between 14977-15257 

Conclusions from 5 Sessions intra day chart analysis 

As last 5 Sessions of previous week trading was between 14977-15257 with some selling at higher levels and some buying also at lower levels therefore expected that Nifty will firsly trade and prepare for next decisive moves within last 5 sessions trading range and finally sustaining it beyond will form next Short term trend which should be firstly watched in next week. 

Nifty-Intra Day Chart Analysis(12-Feb-2021)

Nifty-Intra Day Chart (12-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15193-15243(immediate Resistances)

2- Down moves in Bullish Falling Channel

3- Slow up moves in last hour

4- Whole day actual trading between 15081-15243

Conclusions from intra day chart analysis 

As first 4 hours selling between 15193-15243 therefore more than 100 points fall was seen after that but these Down moves were in Bullish Falling Channel hence some consolidation will be understood and resultant up moves in last hour but those up moves were slow.

Although minor supports at lower levels but good selling also at higher levels therefore if follow up selling develops in the beginning of next week then sharp fall will be seen.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is sideways between 14977-15257

Impulsive Wave-3 continuation with recent top formation at 15257.10 on 09-02-2021 and no indication of its completion yet but emergence of Short Term correction possibility because last 5 sessions sideways between 14977-15257 with higher levels selling and Short term indicator Stochastic has also shown Short term correction beginning above mentioned signals therefore follow up selling and sustaining below 14977 will mean correction beginning towards following supports:- 

1- 14811-14913

2- 14717-14765

3- 14504-14615

As technically Nifty is not mature for immediate one sided moves therefore firstly prepare for it in the beginning of next week between 14977-15257 and sustaining it beyond should be watched in next week for confirmations amid Short term correction possibility below 14977.

 Firstly watch 15066-15188 

for next trend 

Nifty-Intra Day Chart Analysis &

Market Outlook(12-02-2021)

Nifty-Intra Day Chart (11-Feb-2021):-

Technical Patterns formation in today intraday charts

1- More than Five and Half hours trading with mixed Patterns formation between 15109-15166

2- Slow up moves in last half hour 

3- Whole day actual trading between 15066-15188

Conclusions from intra day chart analysis 

Although today closing at higher levels of the day but last half hour up moves were slow and before that more than Five and Half hours trading was with mixed Patterns formation between 15109-15166 therefore view will not be Bullish because pure consolidation patterns formations were not seen and some selling was also seen today.

Expected that Nifty will firstly trade and prepare for next trend within and near about today trading range(15066-15188) and finally sustaining it beyond will confirm it therefore firstly watch it in the coming sessions.

 Watch 2 trading ranges for 

first indication & final confirmation 

of next trend

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-02-2021)

Nifty-Intra Day Chart (10-Feb-2021):-

Technical Patterns formation in today intraday charts

1- Whole day intraday volatility

2- Whole day actual trading between 14978-15168

Conclusions from intra day chart analysis 

Although today closing was near the higher levels of the day after last 2 hours up moves from intraday lower levels but as such one sided technical positions formation was not seen and it was only Whole day intraday volatility day today.

As minor supports at lower levels and minor selling at higher levels also therefore firstly valid break out of today trading range(14978-15168) and finally sustaining beyond 14865-15257 should be watched in the coming sessions for next trend confirmations. 

Just watch above mentioned 2 trading ranges for first indication(14978-15168) and final confirmation(14865-15257) of next trend.