17453-17805 will confirm next decisive moves/Trend

Nifty-Intra Day Chart Analysis &

Market Outlook(24-11-2021)

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

Technical Patterns formation in today intraday charts

1- Sharp fall after negative opening

2- Last 6 hours up moves with downward corrections

3- Whole day actual trading between 17217-17553

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Watch 17453 for deeper correction confirmation amid some up moves possibility":-

up moves may be seen towards following next resistances:-

1- 17563-17590

2- 17644-17578

3- 17781-17805

As was told yesterday 100% same happened today and Nifty closed with 86.80 points gains as well as today highest was at 17553.70 which is just below next resistances(17563-17590). 

Although firstly sharp fall after negative opening was seen today but immediately up moves started which remained continued with downward corrections till last hour and today closing was near the higher levels of the day. 

As last 33 sessions trading range(17453-18604) was broken down yesterday and above mentioned resistances are also lying therefore firstly sustaining beyond 17453-17805 should be watched in the coming sessions for next decisive moves/Trend beginning confirmations. 

 Watch 17453 for deeper correction 

confirmation amid some 

up moves possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-11-2021)

Nifty-Intra Day Chart (22-Nov-2021):-

Technical Patterns formation in today intraday charts

1- More than 100 points down in first 4 minutes after positive opening

2- Down moves with upward corrections

3- More than 160 points recovery from lower levels in last hour

4- Whole day actual trading between 17281-17805

Conclusions from intra day chart analysis 

Following conclusive lines were told on 20-00-2021 in "17453 will confirm deeper correction beginning or correction completion first indication":-

correction continuation is expected towards 17453 in next week more and firstly sustaining it beyond should be watched in next week for:-

1- for deeper correction beginning below it

2- on going correction completion first indication above it. 

Following topic of "Maximum target of Nifty at 18793.00" were posted:-

1- On 16-10-2021 we posted this topic- "Remain cautious because maximum target of Nifty is at 18793.00" 

2- On 25-09-2021 we posted this topic- "Wave-5 Rally continuation towards its maximum target at 18793"

As was told on 20-11-2021 and 100% same happened today in following manner:- 

1- Nifty slipped more than 1300 points from 17613.10 

and 

2- without moving above 18793.00.

Although Nifty positive opening today but slipped more than 100 points in first 4 minutes and after that continuously down moves remains continued with upward corrections therefore once Nifty traded 484 points down. As Very Short Term indicators turned Oversold and sentiment was extremely depressed therefore 160 points recovery was seen from lower levels in last hour.

Nifty traded between 17281-17444 in last hour and got little supports within it therefore expected Nifty will firstly trade within and near about this range tomorrow. As sentiment Very Short Term indicators are also Oversold therefore some up moves may be seen towards following next resistances:-  

1- 17563-17590

2- 17644-17578

3- 17781-17805

As last 33 sessions trading from 01-10-2021 to 18-11-2021 was between 17453-18604 and Nifty forcefully moved below it as well as closed it today therefore it has generated deeper correction strong indication. Once sustaining below 17453 will confirm deeper correction therefore should be firstly watched in the coming sessions amid Oversold indicators led some up moves possibility.

17453 will confirm deeper correction 

beginning or correction completion first indication

Technical Analysis,Research & Weekly 

Outlook(Nov 22 to Nov 26,2021)

Nifty-EOD Chart Analysis

(Averages,Stochastic & MACD)

Nifty-Weekly Chart(18-Nov-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion indication after recent high and new life time top formation at 18604.50 on 19-10-2021

2- Last 22 Sessions Short Term Correction continuation with recent bottom formations at 17613.10 on 29-10-2021

3- Last 33 Sessions sideways trading between 17453-18604 from 01-10-2021 to 18-11-2021 

4-Averages

A- 5-Day SMA is today at 17975

B- 21-Day SMA is today at 18006

B- 55-Day SMA is today at 17793

5- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

6- Stochastic:- %K(5) is at 29.26 & %D(3) is at 50.51.

7- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.

8- MACD:- (26,12) 20.87 & EXP(9)58.50 & Divergence- -37.63

Conclusions from EOD chart analysis

(Averages,Stochastic & MACD)

The correction which started after life time top formation at 18604.50 on 19-10-2021 is in continuation for the last 22 sessions with recent bottom formations at 17613.10 on 29-10-2021 and till now no indication of on going correction completion yet.  

Nifty was hovering around short term averages(5 and 21-Day SMA) for the last 20 sessions has slipped and closed below Intermediate term averages(55-Day SMA) last Friday therefore indicating Intermediate term trend turning down possibility also and its confirmation will be finally sustaining below it which should be firstly watched in next week. 

As both lines of MACD are falling therefore confirming downward trend formations and  both lines of Stochastic are also falling towards Over sold zone therefore suggesting more down moves possibility in next week.

Last 33 Sessions sideways trading between 17453-18604 from 01-10-2021 to 18-11-2021 and finally sustaining it beyond will confirm the life and length of on going correction therefore should be watched in the coming week/weeks for it.

Nifty-Last 33 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Oct 01 to Nov 18,2021):-

Technical Patterns formation in last 33 Sessions intraday charts

1- Selling(Resistances) in last 33 Sessions are as follows:- 

A- 17959-18005

B- 18070-18133

C- 18169-18193

D- 18289-18334 

E- 18379-18458

F- 18548-18604 

2- Consolidation(Supports) in last 33 Sessions are as follows:-

A- 17716-17763 

B- 17641-17704 

C- 17453-17550

3- Last 33 Sessions trading between 17453-18604 

Conclusions from 33 Sessions

intra day chart analysis 

Last 33 sessions sideways trading between 17453-18604 with above mentioned 6 resistances and 3 supports. As resistances are turning stronger than supports and higher good selling was seen in all the last 4 sessions of previous week therefore if fresh selling develops in the coming week also then firstly sustaining beyond last 33 sessions lowest(17453) should be watched in the next week because finally sustaining below it will mean deeper correction confirmation.

Nifty-Intra Day Chart 

Analysis(18-Nov-2021)

Nifty-Intra Day Chart (18-Nov-2021):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- More than 5 hours sideways trading between 17689-17828

3- Whole day actual trading between 17689-17945

Conclusions from intra day chart analysis 

Although flat opening but 220 points down moves with upward corrections in first 3 hours therefore sustaining at lower levels and 0.75% negative closing last Friday. 

As more than 5 hours sideways trading between 17689-17828 in which supports at lower levels and some selling at higher levels was also seen within this range therefore Nifty will firstly trade within this range and prepare for next decisive moves in the beginning of next week as well as finally sustaining beyond this range will generate next decisive moves.

Conclusions (After putting

all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is sideways between 17453-18604 for the last 33 Sessions.   

3- Short Term Trend is down.

As 22 sessions like long big Impulsive Wave-5 correction and Nifty has closed below 55-Day SMA also therefore emergence of "ABC" correction possibility of that rally which started from 7511.10 on 24-03-2020. Let some more correction signals emerge then "ABC" correction of whole 5 waves rally(7511.10-18604.50) will be considered. 

Last 33 Sessions like big sideways trading between 17453-18604 therefore finally sustaining it beyond will form next trend which will generate big moves. As 5 resistances above last Friday closing and below 18604 and 3 supports below last Friday closing and below 17453 therefore Nifty will trade and prepare for next trend between 17453-18604 and finally sustaining it beyond will form next trend. 

MACD is suggesting downward trend formation and Stochastic is also showing more down moves possibility therefore correction continuation is expected towards 17453 in next week and firstly sustaining it beyond should be watched in next week for deeper correction beginning below it or on going correction completion first indication above it. 

 Down moves towards next support

Nifty-Intra Day Chart Analysis & 

Market Outlook(18-11-2021)

Nifty-Intra Day Chart (17-Nov-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 17951-18022

2- Down moves till last minutes

3- Whole day actual trading between 17880-18022

Conclusions from intra day chart analysis 

As more than 5 hours selling between 17951-18022 therefore down moves remained continued till last minutes and today closing was near the lower levels of the day as well as down moves continuation is expected  towards following next supports:-  

1- 17716-17763 

2- 17641-17704

 As busy therefore Stock Market Outlook of today(17-11-2021) is not being updated.

18072-18210 will confirm next Short Term Trend

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-11-2021)

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

Technical Patterns formation in today intraday charts

1- Selling between 18171-18210

2- Selling between 18135-18160

3- Down moves in Bullish Falling Channel

4- Sideways trading between 18072-18104

5- Whole day actual trading between 18072-18210

Conclusions from intra day chart analysis 

Following lines were told on 13-11-2021 in "Last 18 sessions lowest will confirm the life and length of on going correction":-

up moves will remain continued in the beginning of next week but intraday correction will also be seen

As was told 100% same happened and :-

1- Firstly Nifty traded more than 100 points up 

2- Nifty closed flat after intraday correction and loosing all intraday gains.

Although good gains in first half hour but higher levels selling developed and after that follow up selling remain continued also therefore Nifty slipped into negative zone. As last 4 hours sideways trading between 18072-18104 with some consolidation also through Down moves in Bullish Falling Channel therefore up moves towards today highest may be seen tomorrow.

As both lower levels buying and higher levels selling was also seen between 18072-18210 today firstly Nifty will have to trade and prepare for next Short term Trend within this range which will be firstly done tomorrow. Let Nifty trade and  prepare then will be understood according to intraday trading patterns formations and will be updated accordingly. Finally sustaining beyond 18072-18210 will confirm next Short Term Trend which should also be watched for its confirmations.

 Last 18 sessions lowest will confirm the life and length of on going correction

Technical Analysis,Research & Weekly Outlook

(Nov 15 to Nov 18,2021)

Nifty-Weekly Chart Analysis

(Waves,Stochastic & MACD)

Nifty-Weekly Chart(12-Nov-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  

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

4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021

5- Corrective Wave-4 completion at 14151.4 on 22-04-2021

6- Impulsive Wave-5 completion indication after recent high and new life time top formation at 18604.50 on 19-10-2021

7- Short Term correction continuation with recent bottom formation at 17613.10 on 29-10-2021. 

8- Last 4 weeks and 18 Sessions sideways trading between 17453-18604 

9- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

10- Stochastic- %K(5) is at 33.72 & %D(3) is at 43.80.

11- In MACD- MACD line has intersected Average line downward. Its MACD line is moving down in positive zone while its Average line is moving up in positive zone .

Conclusions from Weekly chart analysis

(Waves,Stochastic & MACD)

Impulsive Wave-1 which started after Corrective Wave-C completion at 7511.10 on 24-03-2020 remained continued almost 19 months and its 5th Wave completion indications have also emerged on 19-10-2021 after new life time top formation at  18604.50 because now last 4 weeks and 18 Sessions long correction continuation with recent bottom formation at 17613.10 on 29-10-2021.  

As in weekly Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone which means that  Stochastic has not turned Oversold yet therefore indications of more down moves in the coming week/weeks.

In weekly MACD indicator MACD line has intersected Average line downward and its MACD line is moving down therefore downward trend formation indications have emerged but its Average line is moving up also hence it is  signalling that MACD will give downward trend formation confirmations after some time and more selling patterns formations. 

Nifty-Last 29 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Oct 01 to Nov 12,2021):-

Technical Patterns formation in last 29 Sessions intraday charts

1- Selling(Resistances) in last 29 Sessions are as follows:- 

A- 18289-18334 

S- 18379-18458

C- 18548-18604 

2- Consolidation(Supports) in last 29 Sessions are as follows:-

A- 17984-18046 

B- 17716-17763 

C- 17641-17704 

D- 17453-17550

3- Last 29 Sessions trading between 17453-18604 

Conclusions from 29 Sessions

intra day chart analysis 

Nifty is trading between 17453-18604 for the last 29 sessions with above mentioned supports and resistances which are equally strong and nifty closed almost in the middle of this range last Friday therefore Nifty will trade and prepare for next trend within this range. As 29 sessions like big range and finally sustaining it beyond will generate big moves therefore should be watched in the coming week/weeks for its confirmations. 

Nifty-Intra Day Chart Analysis

(12-Nov-2021)

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

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Up moves with downward corrections

3- Whole day actual trading between 17906-18123

Conclusions from intra day chart analysis 

Although 100 points up after strong opening but after that more than 1 and half hour down moves were also seen last Friday. As these down moves were in Bullish Falling Channel therefore after that strong rally developed which was with downward corrections also hence was near the higher levels of the day.

As whole day good intraday consolidation last Friday therefore up moves will remain continued in the beginning of next week but intraday correction will also be seen because Very Short Term Indicators have turned Over bought and its cooling down is also required through intraday corrections.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is sideways between 17453-18604 for the last 29 Sessions.   

3- Short Term Trend is down.

As per above given Nifty Waves structure maximum target of Nifty is at 18793.00 and it was posted in following topics of previous weekly outlooks:-

1- On 16-10-2021 we posted this topic- "Remain cautious because maximum target of Nifty is at 18793.00" 

2- On 25-09-2021 we posted this topic- "Wave-5 Rally continuation towards its maximum target at 18793"

As on going correction started from 18604.50 on 19-10-2021 and it is below 18793.00 therefore Nifty is honouring this Waves structure till now which means that given Waves structure is still valid. Last 18 sessions on going correction lowest is at 17613.10 and if Nifty slips below it without moving above 18793.00 then that will generate stronger indications of deeper correction beginning because it will confirm Intermediate Term Trend turning down confirmations also after breaking down of 55-Day SMA which is today at 17705.40. 

As weekly Stochastic is suggesting more down moves possibility and weekly MACD has started to show downward trend formation indications therefore firstly sustaining beyond last 18 sessions lowest(17613.10) should be watched in the coming week/weeks for the life of on giong correction confirmations because its valid break down will mean deeper "ABC" correction beginning confirmations.

 Levels will confirm next Short Term Trend

Nifty-Intra Day Chart Analysis & 

Market Outlook(12-11-2021)

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

Technical Patterns formation in today intraday charts

1- 90 Points down in first 15 minutes after weaker opening

2- Down moves in Bullish Falling Channels

3- Up moves in Bearish Rising Channels

4- More than 5 hours trading with mixed Patterns formation between 17799-17892 

5- Whole day actual trading between 17799-17971

Conclusions from intra day chart analysis 

As good intraday selling in last 2 sessions therefore firstly Nifty slipped 90 Points down in first 15 minutes after weaker opening and after that down moves remained continued but were in Bullish Falling Channels also therefore lower levels come supports was seen. Although continuous up moves also developed 3 times but were in Bearish Rising Channels also therefore intraday selling will also be considered.

More than 5 hours trading with mixed Patterns formation between 17799-17892 and expected that Nifty will firstly trade within and near about this range in the coming sessions as well as prepare for next Short Term Trend in the coming sessions. Let Nifty prepare for it within this range then will be decided according to coming sessions intraday patterns formations and finally sustaining beyond 17799-17892 will confirm next Short Term Trend.

 Emergence of down moves possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-11-2021)

Nifty-Intra Day Chart (09-Nov-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 18030-18113

2- Volatility in last 2 hours between 17984-18070

3- Whole day actual trading between 17984-18113

Conclusions from intra day chart analysis 

Although firstly up moves were seen after positive opening but selling developed therefore down moves developed in Mid-session. As volatile market in last 2 hours between 17984-18070 and closing was after good recovery from lower levels but good selling also at higher levels therefore emergence of down moves possibility below day's lowest(17984) and once sustaining below it after fresh selling will mean decisive down moves below 18000.

 Rally continuations with intraday volatility 

Nifty-Intra Day Chart Analysis &

Market Outlook(09-11-2021)

Nifty-Intra Day Chart (08-Nov-2021):-

Technical Patterns formation in today intraday charts

1- Consolidation between 17837-17925

2- Up moves with downward corrections

3- Sideways trading between 18042-18087

4- Whole day actual trading between 17837-18087

Conclusions from intra day chart analysis 

As selling was above 17950 on 03-11-2021 therefore firstly more than 2 hours consolidation was seen below it between 17837-17925 and after that decisive up moves were developed which were with downward corrections hence closing was near the top of the day with 0.85% gains.

Last 2 hours sideways trading between 18042-18087 which was near the higher levels of the day and was amid strong rally led heated sentiments also therefore some intraday volatility may be seen near about this range tomorrow because fresh consolidation is required for sustaining above today this range. 

Next resistances above today highest are between 18289-18334  and rally will remain continued towards it but with some volatility near about 18042-18087.

 Levels will confirm next decisive moves

Nifty-Intra Day Charts Analysis & 

Market Outlook(08-11-2021)

Nifty-Intra Day Chart (Nov 03 & Nov 04,2021):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Selling between 17951-17988 on 03-11-2021

2- Down moves in Bullish Falling Channel on 03-11-2021

3- Volatility in last 2 hours between 17758-17901 on 03-11-2021

4- Down moves after strong opening on 04-11-2021 

5- Last 2 Sessions trading between 17758-17988 

Conclusions from 2 Sessions 

intra day chart analysis 

Although positive opening on 03-11-2021 but good selling between 17951-17988 therefore sharp down moves were seen up to 02:30 PM. As firstly down moves were in  Bullish Falling Channel therefore some up moves and volatility developed in last hours also.

Strong opening on Dipawali Muhurt session but after that only down moves were seen therefore closing was near the lower levela of the day.

As higher levels selling and and lower levels some buying also in last 2 sessions therefore expected that Nifty will trade between 17758-17988 in the beginning of next week and finally sustaining it beyond will generate next decisive which should be watched in the coming sessions. 

 As still out of station and will remain busy also therefore will be able to post Stock Market Outlooks from and for 08-11-2021.

 Levels will confirm next big moves amid firstly Pull Back rally possibility

Technical Analysis,Research & Weekly Outlook

(Nov 01 to Nov 05,2021)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (29-Oct-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  

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

4- Impulsive Wave-3 completion at 15431.8 on 16-02-2021

5- Corrective Wave-4 completion at 14151.4 on 22-04-2021

6- Impulsive Wave-5 completion indication after recent high and new life time top formation at 18604.50 on 19-10-2021

7- Short Term correction continuation with recent bottom formations at 17613.10 on 29-10-2021 

Conclusions from EOD chart analysis

(Waves structure)

Following topic of "maximum target of Nifty at 18793.00" were posted:-

1- On 16-10-2021 we posted this topic- "Remain cautious because maximum target of Nifty is at 18793.00" 

2- On 25-09-2021 we posted this topic- "Wave-5 Rally continuation towards its maximum target at 18793"

As Nifty could not move above 18793.00 and slipped 991 Points till last Friday in last 9 sessions after life time top formation at 18604.50 on 19-10-2021 therefore as per above given Nifty waves structure indications of Impulsive Wave-5 completion. 

Confirmation of Wave 5 completion at 18604.50 will mean correction beginning of whole that rally which started from 7511.10 on 24-03-2020 and gained 11093.40 Points in almost 19 months after life time top formation at 18604.50. 

Let Wave 5 completion confirmation come then "ABC correction" will be considered as per Elliott Waves theory. 

Nifty-EOD Chart Analysis

(Averages,Stochastic & MACD)

Nifty-EOD Chart (29-Oct-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion indiction after recent high and new life time top formation at 18604.50 on 19-10-2021

2- Short Term correction continuation with recent bottom formations at 17613.10 on 29-10-2021 

2-Averages

A- 5-Day SMA is today at 18026 

B- 21-Day SMA is today at 18001

B- 55-Day SMA is today at 17466

3- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

4- Stochastic- %K(5) is at 25.66 & %D(3) is at 39.04.

5- In MACD- MACD line has intersected Average line downward. Its MACD line is moving down in positive zone while its Average line has turned flat.

Conclusions from EOD chart analysis

(Averages,Stochastic & MACD)

As last 9 sessions Short Term correction therefore Short Term indicators have started to show clear weakness signals through downward intersection of both Stochastic and MACD.In this manner MACD is showing downward trend formation but both lines of Stochastic are just above Oversold zone hence it is suggesting a Pull Back Rally possibility in next week. 

Another weakness signal has come from both Short Term Averages(5 and 21-Day SMA) after last 2 sessions closing below these 2 Averages. As Nifty is above intermediate Term Trend decider(55-Day SMA) therefore it is still up.  

Nifty-Last 20 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Oct 01 to Oct 29,2021):-

Technical Patterns formation in last 20 Sessions intraday charts

1- Selling(Resistances) in last 20 Sessions are as follows:- 

A- 18289-18334 

S- 18379-18458

C- 18548-18604 

2- Consolidation(Supports) in last 20 Sessions are as follows:-

A- 17616-17763 

B- 17641-17704 

C- 17453-17550

3- Last 20 sessions trading between 17453-18604 

Conclusions from 20 Sessions

intra day chart analysis 

Last 20 sessions of Oct 2021 trading was between 17453-18604 with above mentioned supports and resistances. As consolidation was seen within above mentioned 2nd supports last Friday therefore Up moves are firstly expected in the beginning of next week towards above mentioned resistances and finally sustaining it beyond will confirm next big moves after last more than 20 sessions trading range break out/down confirmations.

Nifty-Intra Day Chart Analysis

(29-Oct-2021)

Nifty-Intra Day Chart (29-Oct-2021):-

Technical Patterns formation in today intraday charts

1- 219 Points sharp fall in first 5 minutes after weaker opening

2- 300 Points sharp up

3- Down moves in Bullish Falling Channel

4- Consolidation between 17616-17763(immediate supports)

5- Whole day actual trading between 17614-17915

Conclusions from

intra day chart analysis 

Huge volatility in first 2 hours last Friday because firstly 219 points sharp fall in first 5 minutes and after that 300 Points sharp up moves developed. 

As Mid-session Down moves were in Bullish Falling Channel and after that lower levels consolidation was also seen between 17616-17763 in last 2 hours therefore up moves are expected towards/above last Friday highest(17915) in the beginning of next week.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is still up. 

3- Short Term Trend is down.

As per above given Nifty Waves structure maximum target of Nifty is at 18793.00 and Nifty slipped 991 Points till last Friday in last 9 sessions after life time top formation at 18604.50 on 19-10-2021 therefore emergence of Waves structure validity signals and its confirmation will be as per following developments one by one in the coming weeks/months:-  

1- Its first signal will be after sustaining below last 20 sessions trading lowest(17453). As Intermediate Term Trend decider 55-Day SMA is also just above it is at 17466 therefore Intermediate Term Trend will also be down below 17453 which will mean correction continuation from 3 weeks to 3 months.

2- Its 2nd and last confirmation as well as deeper correction confirmation also will be after sustaining below Long Term Trend decider 200-Day SMA,which is today at 15773.

As some lower levels consolidation was seen last Friday and both lines of Short Term Indicator Stochastic are also just above Oversold zone therefore emergence of Pull Back rally possibility in the beginning of next week but finally sustaining beyond last 20 sessions trading range(17453-18604) will confirm following next big moves therefore it should also be watched in the coming week/weeks:-

1- Below 17453 will mean decisive down moves beginning and deeper correction possibility because it will generate strong signals of Impulsive Wave-5 completion at 18604.50 and after this emergence of "ABC" correction possibility of 19 months rally gaining 11093.40 Points between 7511.10-18604.50.

2- Above 18604 will mean rally continuation after Short Term correction completion in sideways market between 17453-18604 and in this situation moving above 18793 should also be watched because in that situiation Waves will also have to be recounted as per Elliott Wave theory principles. 

 As still out of station therefore Stock Market Outlook of today(28-10-2021) is not being updated.

 As out of station therefore Stock Market Outlook of today(26-10-2021) is not being updated.

 Levels will confirm life and size of 

previous week started correction

Technical Analysis,Research & 

Weekly Outlook(Oct 25 to Oct 29,2021)

Nifty-EOD Chart Analysis

(Averages,Stochastic & MACD)

Nifty-EOD Chart (22-Oct-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 18604.50 on 19-10-2021

2- Short Term correction continuation with recent bottom formations at 18034.30 on 22-10-2021 

2-Averages

A- 5-Day SMA is today at 18291 

B- 21-Day SMA is today at 17946

3- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.

4- Stochastic- %K(5) is at 25.49 & %D(3) is at 46.46.

5- In MACD- MACD line has intersected Average line upward. Its MACD line has has turned flat while its Average line is moving up in positive zone.

Conclusions from EOD chart analysis

(Averages,Stochastic & MACD)

Impulsive Wave-5 continuation with recent high and new life time top formation at 18604.50 on 19-10-2021 and no confirmation of its completion yet on EOD Charts but Short Term correction begun in previous week which is in continuation with recent bottom formations at 18034.30 on 22-10-2021

In Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone. As it has not turned completely Oversold and positive divergence has also not developed yet therefore some more down moves are expected in the beginning of next week.

As up tend is still intact therefore MACD is still showing upward trend but with caution because its MACD line has has turned flat. 

Nifty-Last 8 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Oct 12 to Oct22,2021):-

Technical Patterns formation in last 8 Sessions intraday charts

1- Selling(Resistances) in last 8 Sessions are as follows:-

A- 18548-18604

B- 18379-18458

C- 18230-18314 

2- Consolidation(Supports) in last 8 Sessions are as follows:-

A- 18048-18084 

B- 18009-18050(Gap support)

C- 17865-17942

3- 8 Sessions actual trading between 17865-18604 

Conclusions from 8 Sessions intra day chart analysis 

Last 8 Sessions trading between 17865-18604 with above given lower levels supports and higher levels selling as well as last Friday closing was above all the supports therefore Nifty will have to trade and prepare for next decisive moves and that will firstly done in next week within last 8 sessions trading range(17865-18604). 

Let Nifty to trade and prepare for next decisive moves then will be decided according to intraday charts patterns formations in the coming week/weeks. Finally next decisive moves confirmation will be sustaining it beyond which should be firstly watched in the coming week/weeks.

Nifty-Intra Day Chart Analysis &

Market Outlook(25-10-2021)

Nifty-Intra Day Chart (22-Oct-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 18230-18314

2- Sharp fall

3- Down moves with upward corrections

4- Mixed Patterns formation in last 3 hours between 18035-18168

5- Whole day actual trading between 18035-18314

Conclusions from

intra day chart analysis 

Although strong opening last Friday and first 2 hours trading also in Green zone but selling developed therefore sharp fall was seen in Mid-session. As follow up selling was also seen after sharp fall therefore Down moves remain continued till last hours.

As last 3 hours trading was with Mixed Patterns formation between 18035-18168 with lower levels some supports also therefore firstly sustaining beyond this range should be watched in the beginning of next week for last week started correction continuation below 18035 or first signal of correction completion above 18168.

Conclusions

(After putting all studies together)

1- Long term trend is up.

2- Intermediate term trend is up.

3- Short term trend is down.

Although Nifty closed at life time highest at 18338.5 on 14-10-2021 but we posted following Weekly analysis topic on 18-10-2021:-

Remain cautious because maximum

 target of Nifty is at 18793.00 

Maximum target of Nifty was given at 18793.00 and correction started from 18604.50 on 19-10-2021 which remained continuaed till last Friday and no confirmation of previous week started correction yet. 

Although MACD is showing upward trend yet but Stochastic is showing some more down moves possibilities therefore it can not be ruled out in the beginning of next week. As  Stochastic is just above Over sold zone and MACD is still showing up trend therefore up moves may also be seen towards above given resistances after some down moves.

Last 8 sessions trading was between 17865-18604 with above updated supports and resistances and those are almost equally strong therefore expected that Nifty will firstly trade and prepare for next big moves within this range. As finally sustaining beyond this range will confirm the life and size of previous week started correction therefore it should be firstly watched in the coming week/weeks because sustaining below 17865 will mean deeper correction possibility after honouring maximum target of Nifty at 18793.00

 Sideways market expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-10-2021)

Nifty-Intra Day Chart (21-Oct-2021):-

Technical Patterns formation in today intraday charts

1- Down moves with continuous selling

2- Down moves in Bullish Falling Channels

3- Up moves with downward corrections

4- Whole day actual trading between 18048-18384

Conclusions from intra day chart analysis 

Although firstly almost 2 hours down moves with continuous selling after positive opening but after that more than 2 hours down moves were in Bullish Falling Channels therefore some recovery was seen from lower levels in last hours which were with downward corrections also. 

As both higher levels selling and lower levels buying therefore sideways market is expected within today trading range(18048-18384) tomorrow. 

 18209 will confirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(21-10-2021)

Nifty-Intra Day Chart (20-Oct-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 18379-18458

2- Down moves with upward corrections

3- Down moves in Bullish Falling Channel

4- Up moves in last half hour

5- Whole day actual trading between 18209-18458

Conclusions from intra day chart analysis 

As good selling in first more than 4 hours therefore down moves remained continued till last hour but some supports were also seen at lower levels in last hour therefore hence sustaining beyond today lowest(18209) should be firstly watched tomorrow for:-

1- Sharp down moves towards 18000 below 18209

2- Up moves towards 18556 above 18209 

Today trading range will confirm next decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(20-10-2021)

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

Technical Patterns formation in today intraday charts

1- Selling between 18556-18604

2- Up moves in Bearish Rising Channel

3- Selling between 18548-18590

4- Sharp fall

5- Whole day actual trading between 18377-18604

Conclusions from intra day chart analysis 

Although firstly strong up moves after gap up opening but selling developed therefore sharp fall was seen in first hour. Strong recovery from lower levels but Up moves were in Bearish Rising Channel and again good selling was seen at higher levels hence sharp fall was seen in last hours also.

As good selling between 18548-18604 today therefore this range will be immediate resistance of Nifty and until Nifty will not sustain above it till then decisive up moves will not be seen and fresh selling tomorrow will mean fresh down moves towards 18000.  

Sustaining beyond today trading range should be firstly watched tomorrow for next decisive moves confirmations

 As busy therefore Stock Market Outlook of today(19-10-2021) is not being updated.