As busy therefore Stock Market Outlook of today(19-07-2022) is not being updated.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
Firstly rally continuation & finally
15801-16275 will confirm
next Short Term trend
Technical Analysis,Research & Weekly Outlook
(Jul 18 to Jul 22,2022)
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (15-Jul-2022):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC" correction beginning with Double Zig-Zag pattern formation
2- Wave-A completion at 16410.20 on 20-12-2021
3- Wave-B completion at 18351.00 on 18-01-2022
4- Wave-C bottom formation at 15671.5 on 08-03-2022
5- Wave-X completion at 18114.70 on 04-04-2022
6- Wave-A completion at 15735.80 on 12-05-2021
7- Wave-B completion at 16793.80 on 03-06-2022
8- Wave-C completion at 15183.4 on 17-06-2022
9- Wave-A continuation with recent top formation at 16275.5 on 08-07-2022
10-Wave-A correction continuation with recent bottom formation at 15858.2 on 14-07-2022
11- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.
12- Stochastic:- %K(5)- 24.43 & %D(3)- 33.23.
13- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.
14- MACD(26,12)- 252.20 & EXP(9)- 101.49 & Divergence- 150.71
Conclusions from EOD chart analysis
(Stochastic & MACD)
"ABC" correction continuation with Double Zig-Zag pattern formation and no confirmation of its completion yet on EOD charts.
In Stochastic its both lines are falling towards Over sold zone and not Oversold yet therefore some more down moves possibilities are still alive.
In MACD its both lines are rising in positive zone therefore showing upward trend formations and more up moves in the coming week also.
Nifty-Last 8 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Jul 06 to Jul 15,2022):-
Technical Patterns formation in last 8 Sessions intraday charts
1- Selling(Resistances) in last 8 Sessions are as follows:-
A- 16021-16070
B- 16064-16140
C- 16101-16158
D- 16198-16236
2- Consolidation(Supports) in last 8 Sessions are as follows:-
A- 15928-15985
B- 15916-15859
C- 15914-15948
D- 15859-15916
3- Last 8 Sessions actual trading between 15801-16275
Conclusions from 8 Sessions
intra day chart analysis
Last 8 Sessions trading between 15801-16275 with above mentioned supports and resistances which are equally stronger. As last Friday closing at 16049.20 was almost at the centre of last 8 Sessions trading range therefore expected that Nifty will firstly trade and prepare for next decisive moves within this range and finally sustaining it beyond will confirm it.
Nifty-Intra Day Chart Analysis
(15-Jul-2022)
Nifty-Intra Day Chart (15-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Consolidation between 15928-15985
2- Up moves with downward corrections
3- Whole day actual trading between 15928-16066
Conclusions from intra day chart analysis
Although firstly slipping after positive opening but lower levels good consolidation developed between 15928-15985 therefore up moves were seen which remained continued till last minutes. As last 3 hours up moves were with downward corrections and intraday selling patterns were not seen last Friday therefore on going rally will remain continued in the beginning of next week also.
Conclusions
(After putting all studies together)
1- Long Term trend is down.
2- Intermediate Term trend is sideways.
3- Short Term trend is up.
Last 9 months "ABC" correction begun after impulsive Wave-5 completion at 18604.50 on 19-10-2021 and it is correcting that Waves structure which started from 7511.10 on 24-03-2020 through its impulsive Wave-1.
As MACD is showing upward trend formations and good consolidation patterns formations in last Friday intraday chart is also suggesting on going rally continuation therefore firstly decisive up moves will be seen towards above mentioned resistances in the beginning of next week.
Last 8 Sessions trading between 15801-16275 with almost equal stronger supports and resistances within it therefore Nifty will firstly trade and prepare for next trend within this range. As finally sustaining beyond this range will confirm next Short Term trend and life/length of on going Wave-A correction also therefore should be firstly watched in the coming week.
15916-15859 will confirm next
decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(15-07-2022)
Nifty-Intra Day Chart (14-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16021-16070
2- Mixed Patterns formation between 15937-15979
3- Consolidation between 15859-15916
4- Whole day actual trading between 15859-16070
Conclusions from intra day chart analysis
Although firstly up moves after positive opening but after that selling developed therefore not sustained at higher levels and down moves were seen which remained continued till last hours,
As Mixed Patterns formation in Mid-session and after that lower levels consolidation in last hours therefore up moves are expected in the coming sessions.
Dow Jones is trading 01.18% down at this moment and such weaker US markets today closing will mean sentimental weakness tomorrow morning and in reaction Indian markets may also open in Red but lower levels consolidation was seen today therefore sustaining beyond 15916-15859 should be watched tomorrow for next decisive moves beginning confirmations.
Levels will confiirm next
decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(14-07-2022)
Nifty-Intra Day Chart (13-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16064-16140
2- Down moves
3- Sideways trading between 15951-16007
4- Whole day actual trading between 15951-16140
Conclusions from intra day chart analysis
Although positive opening but follow up selling developed therefore could not sustain at higher levels and down moves were seen in Mid-session.
As sideways trading in last 2 hours between 15951-16007 therefore and one sided trading patterns were not seen therefore expected that Nifty will firstly traded within and near about this range as well as prepare for next decisive moves hence firstly valid break out of this range should be watched tomorrow for its confirmations.
Correction continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(13-07-2022)
Nifty-Intra Day Chart (12-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16101-16158
2- Sharp fall in last hour
3- Whole day actual trading between 16032-16158
Conclusions from intra day chart analysis
Following lines were told on 09-07-2022 in "Short Term Correction is on cards":-
1- strong indication of Short Term Correction beginning therefore it may begin any day in next week.
2- strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.
As was told 100% same happened and Short Term Correction is being seen in this week.
As good selling in first 5 hours therefore sharp fall was seen in last hour and correction continuation is expected in the coming sessions also as well as until Nifty will not sustain above today highest after complete consolidation till then decisive up moves will not be seen.
Short Term Correction is on cards
Technical Analysis,Research & Weekly Outlook
(Jul 11 to Jul 15,2022)
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (08-Jul-2022):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC" correction beginning with Double Zig-Zag pattern formation
2- Wave-A completion at 16410.20 on 20-12-2021
3- Wave-B completion at 18351.00 on 18-01-2022
4- Wave-C bottom formation at 15671.5 on 08-03-2022
5- Wave-X completion at 18114.70 on 04-04-2022
6- Wave-A completion at 15735.80 on 12-05-2021
7- Wave-B completion at 16793.80 on 03-06-2022
8- Wave-C completion at 15183.4 on 17-06-2022
9- Wave-A continuation with recent top formation at 16275.5 on 08-07-2022
10- In Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising within Over bought zone.
11- Stochastic:- %K(5)- 93.77 & %D(3)- 85.13.
12- In MACD- MACD line has intersected Average line upward. Its MACD line is rising in positive zone and Average line is rising in negative zone.
13- MACD(26,12)- 75.96 & EXP(9)- -193.52 & Divergence- 269.48
Conclusions from EOD chart analysis
(Stochastic & MACD)
Impulsive Wave-5 completed after new life time top formation at 18604.50 on 19-10-2021,this 5th wave was of that Waves structure which begun through its impulsive Wave-1 from 7511.10 on 24-03-2020. Now "ABC" correction of this Waves structure(7511.10-18604.50) is in continuation with Double Zig-Zag pattern formation and no confirmation of its completion yet on EOD charts. At present Wave-A is on after bottom formation at 15183.4 on 17-03-2022 and its recent top formation is at 16275.5 on 08-07-2022.
In Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising within Over bought zone. As it is strong indication of Short Term Correction beginning therefore it may begin any day in next week.
In MACD- MACD line has intersected Average line upward. Its MACD line is rising in positive zone and Average line is rising in negative zone. As it is first strong indication of upward trend formations therefore let firstly its Average line to move into positive zone then will get its confirmations
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (08-Jul-2022):-
Technical Patterns and Formations in EOD charts
Averages:-
A- 5-Day SMA is today at 15998
B- 21-Day SMA is today at 15748
C- 55-Day SMA is today at 16194
D- 100-Day SMA is today at 16602
E- 200-Day SMA is today at 17123
Conclusions from EOD chart analysis
(Averages)
Wave-A continuation with recent top formation at 16275.5 on 08-07-2022 which is well above 5-Day and 21-Day SMA therefore Short Term Trend has already turned up. As Nifty crossed and closed above 55-Day SMA(16194) last Friday and it is first indication of Intermediate Term Trend turning up therefore firstly sustaining it beyond should be watched in the coming 1/2 weeks for its turning up/down confirmations.
Nifty-EOD Chart Analysis
(Bollinger Band)
Nifty-EOD Chart (08-Jul-2022):-
Technical Patterns and Formations in EOD charts
1- Nifty closed above Upper Band of Bollinger Band in previous week
Conclusions from EOD chartanalysis
(Bollinger Band)
As Nifty closed above Upper Band of Bollinger Band in previous week after more than 1000 points rally therefore firstly sustaining beyond Upper Band should be watched in next week for rally continuation confirmations above it or Short Term correction beginning confirmations below it.
Nifty-Intra Day Chart Analysis
(08-Jul-2022)
Nifty-Intra Day Chart (08-Jul-2022):-
Technical Patterns formation in today intraday charts
1- 55 Points sharp fall in first 14 seconds
2- Selling Patterns formation between 16198-16236
3- Whole day actual trading between 16158-16236
Conclusions from intra day chart analysis
Although gap up strong opening last Friday but firstly 55 points sharp fall in first 14 seconds and after that selling Patterns formation was seen between 16198-16236 therefore if Nifty sustains below last lowest(16157.90) in next week then it will be strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.
Conclusions
(After putting all studies together)
1- Long Term trend is down.
2- Intermediate Term trend is sideays and finally sustaining beyond its decider 55-Day SMA(16194) will confirm its trend.
3- Short Term trend is up.
Although MACD is suggesting signals of upward trend formation but Stochastic is showing Short Term correction strong indications and it is most expected also in next week therefore let expected Short Term correction complete then upward trend will be considered.
As Nifty has closed above 55-Day SMA(16194) and Upper Band of Bollinger Band also in previous week therefore firstly sustaining beyond these 2 indicators should be watched in next week amid Short Term correction beginning strong indications.
Wave-A continuation with its recent top formation at 16275.5 on 08-07-2022 and no confirmation of its completion yet on EOD charts but intraday chart of last Friday is showing selling patterns and indicators are suggesting that Short Term Correction is on cards therefore expected that firstly correction of Nifty will be seen and finally sustaining beyond Wave-A length(15183.4-16275.5) will confirm next trend.
Rally continuation & remain cautious amid short term correction beginning possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(08-07-2022)
Nifty-Intra Day Chart (07-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Slow up moves
3- Whole day actual trading between 16046-16150
Conclusions from intra day chart analysis
As intraday consolidation through Down moves in Bullish Falling Channels after gap up strong opening and as such intraday selling patterns therefore on going rally continuation is expected. Short term indicators have turned overbought therefore remain cautious also because firstly intraday selling and after that short term correction may begin any day.
Watch next/last resistance amid
globally crashing Crude oil prices
Nifty-Intra Day Chart Analysis &
Market Outlook(07-07-2022)
Nifty-Intra Day Chart (06-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Sharp fall after positive opening
2- Consolidation between 15859-15903
3- Up moves in Mid-session
4- Consolidation between 15914-15948
5- Up moves in last hour
6- Whole day actual trading between 15801-16011
Conclusions from intra day chart analysis
As Crude oil plummets more than $10 yesterday and traded below $100 also which is most favourable for Indian eeconomy therefore positive opening of Indian markets.
Good selling at higher levels was seen yesterday therefore firstly sharp fall for consolidation and after that up moves developed in Mid-session. As follow up also consolidation developed in Mid-session therefore again up moves were seen in last hour and Nifty closed near the higher levels of the day.
Selling was seen between 15964-16025 yesterday and this range is next/last resistance of on going Pull Back Rally as well as Nifty clossed within it at 15989.80 today with after lower levels good consolidation therefore firstly sustaining beyond 15964-16025 should be watched tomorrow amid globally crashing Crude oil prices.
Down moves continuation below
today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(06-07-2022)
Nifty-Intra Day Chart (05-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Sharp up after positive opening
2- Selling between 15964-16025
3- Crashing in last 2 hours
4- Whole day actual trading between 15786-16025
Conclusions from intra day chart analysis
Following lines were told yesterday in "Next resistances will confirm the life of on going rally":-
1- some up moves above today highest can not be ruled out
2- As Very Short indicators have turned Over bought and next resistances are lying just above today highest between 15869-15927 therefore firstly sustaining it beyond should be watched
As was told yesterday 100% same happened today and firstly up moves were seen but fresh selling developed between 15964-16025 which was above yesterday mentioned resistance range(15869-15927) therefore Nifty crashed in last 2 hours.
Only intraday selling was seen and consolidation was not seen today therefore today started down moves will remain continued below today lowest in the coming session.
Next resistances will confirm
the life of on going rally
Nifty-Intra Day Chart Analysis &
Market Outlook(05-07-2022)
Nifty-Intra Day Chart (04-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Consolidation between 15662-15697
3- Up moves with downward corrections
4- Whole day actual trading between 15662-15852
Conclusions from intra day chart analysis
Although firstly slipping after negative opening and Nifty traded 90 points weaker also but first hour Down moves were in Bullish Falling Channel and lower levels consolidation was seen between 15662-15697 therefore up moves started which remained continued till last half hour. As last 5 hours up moves were with downward corrections and intraday selling patterns were not seen today therefore some up moves above today highest can not be ruled out.
As Very Short indicators have turned Over bought and next resistances are lying just above today highest between 15869-15927 therefore firstly sustaining it beyond should be watched in the coming sessions for the life confirmation of on going rally.
Levels will confirm the life & length
of on going "ABC" correction
Technical Analysis,Research &
Weekly Outlook(Jul 04 to Jul 08,2022)
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (01-Jul-2022):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion after new life time top formation at 18604.50 on 19-10-2021 and corrective Wave-A of "ABC" correction beginning with Double Zig-Zag pattern formation
2- Wave-A completion at 16410.20 on 20-12-2021
3- Wave-B completion at 18351.00 on 18-01-2022
4- Wave-C bottom formation at 15671.5 on 08-03-2022
5- Wave-X completion at 18114.70 on 04-04-2022
6- Wave-A completion at 15735.80 on 12-05-2021
7- Wave-B completion at 16793.80 on 03-06-2022
8- Wave-C completion at 15183.4 on 17-06-2022
9- Wave-A continuation with recent top formation at 15927.5 on 27-06-2022
10- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone.
11- Stochastic:- %K(5)- 62.39 & %D(3)- 72.10
12- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.
13- MACD(26,12)- -250.35 & EXP(9)- -435.01 & Divergence- 184.66
Conclusions from EOD chart analysis
(Stochastic & MACD)
Impulsive Wave-1 of which Waves structure started from 7511.10 on 24-03-2020,that completed after its impulsive Wave-5 completion with new life time top formation at 18604.50 on 19-10-2021. After impulsive Wave-5 completion "ABC" correction with Double Zig-Zag pattern formation begun to correct whole rally between 7511.10-18604.50 which is in continuation with recent bottom formation at 15183.4 on 17-03-2022. After this Wave-A started which is in continuation with recent top formation at 15927.5 on 27-06-2022 and no confirmation of its completion yet on EOD charts.
As in Stochastic indicator %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore signalling Short Term correction beginning possibility in next week.
As in MACD MACD line has intersected Average line upward and its both lines are rising in negative zone therefore emergence of first signal of upward trend formations. Let both lines of MACD to move into positive zone then upward trend formations will get confirmations.
Nifty-Last 15 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Jun 13 to Jul 01,2022):-
Technical Patterns formation in last 15 Sessions intraday charts
1- Selling(Resistances) in last 15 Sessions are as follows:-
A- 15807-15861(Strong resistances)
B- 15869-15927
2- Consolidation(Supports) in last 15 Sessions are as follows:-
A- 15693-15723
B- 15592-15690
C- 15503-15556
D- 15393-15462
E- 15236-15314
3- Last 15 Sessions actual trading between 15184-15927
Conclusions from 15 Sessions
ntra day chart analysis
Last 15 Sessions trading between 15184-15927 with above mentioned supports and resistances which are sufficiently stronger also therefore expected that Nifty will firstly trade within last 15 sessions trading range and prepare for next trend. As finally sustaining beyond last 15 Sessions trading range(15184-15927) will confirm next trend therefore it should be firstly watched in the coming week/weeks for next trend formation confirmations.
Nifty-Intra Day Chart Analysis
(01-Jul-2022)
Nifty-Intra Day Chart (01-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Sharp fall in first hour after gap down and 76 points weaker opening.
2- Up moves with downward corrections
3- Whole day actual trading between 15512-15793
Conclusions from intra day
chart analysis
Although firstly 269 points sharp fall in first hour after gap down and 76 points weaker opening but up moves started which remained continued till last minutes. As last 5 hours up moves were with downward corrections therefore expected that some up moves will be seen towards next resistances in the beginning of next week if Global markets and its Futures will not be in crashing mode due to any Geo-Political negative news.
Conclusions
(After putting all studies together)
1- Long Term trend is down.
2- Intermediate Term trend is down.
3- Short Term trend is up.
More than 8 months old "ABC" correction continuation with Double Zig-Zag pattern formation after impulsive Wave-5 completion at 18604.50 on 19-10-2021 and no confirmation of its completion yet on EOD charts.
As last 15 Sessions trading between 15184-15927 therefore finally sustaining beyond this range will confirm next trend and life/length of on going "ABC" correction therefore firstly sustaining it beyond should be watched in next week for:-
1- Sustaining above 15927 will mean 1st signal of on going "ABC" correction completion.
2- Slipping below 15184 will mean corrective Wave-B continuation confirmation toward new lower levels of on going "ABC" correction.
Firstly watch 15869 for the life
of on going Pull Back Rally
Nifty-Intra Day Chart Analysis &
Market Outlook(30-06-2022)
Nifty-Intra Day Chart (29-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- Up moves in Bearish Rising Channel
3- Sharp fall
4- Down moves in last hour
5- Whole day actual trading between 15688-15861
Conclusions from intra day chart analysis
Following lines were told yesterday in "Down moves toward today lowest":-
down moves will be seen toward today lowest(15710.15).
As was told 100% same happened today and down moves were seen towards and below yesterday lowest as well as today lowest was at 15687.80.
Although firstly slipping 162 points but after that up moves started which remained continued till last hour. As firstly Up moves were with downward corrections therefore intraday rally remained continued. Higher levels some selling was also seen through Up moves in Bearish Rising Channel hence firstly sharp fall from higher levels and after that Down moves developed in last hour.
Selling was seen above 15869 on 27-06-2022 and Nifty closed below it with intraday selling near about it in last 2 sessions therefore firstly sustaining it beyond should be watched in the coming sessions for the life of that Pull Back Rally which started on 17-06-2022 from 16183.4.
Down moves toward today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(29-06-2022)
Nifty-Intra Day Chart (28-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Down moves after gap down opening
2- Supports between 15711-15742
3- Up moves in Bearish Rising Channels
4- Whole day actual trading between 15711-15892
Conclusions from intra day chart analysis
Following lines were told at 12:24 AM on 28-06-2022 in "Levels will confirm the life length of expected Very Short Term correction":-
Very Short Term correction is firstly expected below today lowest(15816)
As was told 100% same happened and Nifty slipped below 15816 as well as today lowest formed at 15710.15 in first hour today.
Although firstly slipping 122 points down moves after gap down opening in first hour but getting supports at lower levels and whole day up moves were seen as well as today closing was near the higher levels of the day.
As whole day today up moves were in Bearish Rising Channels and yesterday selling was seen above 15869 therefore expected that Nifty will not sustain above today highest(15892.10) and down moves will be seen toward today lowest(15710.15).
Levels will confirm the life length of
expected Very Short Term correction
Nifty-Intra Day Chart Analysis &
Market Outlook(28-06-2022)
Nifty-Intra Day Chart (27-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 15869-15927
2- Selling between 15872-15907
3- Whole day actual trading between 15816-15927
Conclusions from intra day chart analysis
Although whole day positive zone trading after huge gap up opening and 0.85% Green closing also but higher levels selling was seen therefore Very Short Term correction is firstly expected below today lowest(15816) and finally sustaining beyond today seliing range(15869-15927) will confirm the life length of expected Very Short Term correction.
Rally continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(27-06-2022)
Nifty-Intra Day Chart (24-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Up moves with downward corrections
3- Consolidation between 15679-15715
4- Whole day actual trading between 15620-15749
Conclusions from intra day
chart analysis
As whole day good intraday comsolidation after gap up strong opening last Friday therefore on going rally continuation is expected in the coming sessions also.
(As I was out of station during week end therefore could not post weekly Outlook of this week.)
Levels will confirm next
Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(24-06-2022)
Nifty-Intra Day Chart (23-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Sharp up after positive opening
2- Selling between 15558-15628
3- Down moves in Bullish Falling Channel
4- Sharp up moves
5- Sideways trading in last hour between 15549-15590
6- Whole day actual trading between 15368-15628
Conclusions from intra day chart analysis
Following line was told yesterday in "Up moves expectations":-
up moves are expected towards the lowest of yesterday Sideways trading range(15620)
As was told 100% same happened and up moves were seen as well as today highest was at 15628.45.
Although firstly sharp up after positive opening but higher levels selling therefore not sustaining within yesterday profit booking range above 15620 and down moves were seen. As Down moves were in Bullish Falling Channel also therefore sharp up moves developed after that. Technical positions beyond today trading range are as follows:-
1- Selling was seen above today highest and below 15707 on 21-06-2022
2- Conoslidation was seen below today lowest and above 15192 on 20-06-2022
As both lower levels buying and higher levels selling was seen between 15192-15707 in 4 previous sessions of this week therefore expected that Nifty will trade within this range in the coming sessions and finally sustaining beyond this range will form next Short Term Trend hence should be watched in the coming sessions for its confirmations.
Up moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(23-06-2022)
Nifty-Intra Day Chart (22-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Consolidation between 15386-15463
3- Whole day actual trading between 15386-15565
Conclusions from intra day chart analysis
Although more than 4 hours down moves after weaker opening but Down moves were in Bullish Falling Channels and consolidation was seen in last hour between 15386-15463 therefore up moves are expected towards the lowest of yesterday Sideways trading range(15620).
Firstly watch 15620-15707 for
next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(22-06-2022)
Nifty-Intra Day Chart (21-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Consolidation between 15420-15472
2- Sharp up
3- Consolidation between 15645-15613
4- Sideways trading in last 3 hours between 15620-15707
5- Whole day actual trading between 15420-15707
Conclusions from intra day chart analysis
Following conclusive line was told on 18-06-2022 in "Relief rally possibility after previous week crash":-
relief rally possibility after previous week crash
Following lines were told on 20-06-2022 in "Today started up moves continuation expectations":-
up moves were seen in last hour and its continuation is expected in the coming sessions also.
As was told 100% same happened and up moves were seen in both previous sessions of this week in following manner:-
1- Nifty gained 56 points yesterday.
2- Nifty gained 288 points today.
As firstly consolidation after gap up opening therefore sharp up moves were seen after that and follow up consolidation developed in Mid-Session also. Although 1.88% positive closing but very Short Term indicators have turned Over bought after today strong rally and higher levels some profit booking was seen therefore Nifty slipped 87 points from higher levels in last hour.
Last 3 hours sideways trading between 15620-15707 and higher levels some profit booking also therefore firstly sustaining beyond this range should be watched tomorrow for next decisive moves beginning.
Today started up moves
continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(21-06-2022)
Nifty-Intra Day Chart (20-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Consolidation between 15253-15312
3- Down moves in Bullish Falling Channel
4- Consolidation between 15264-15322
5- Whole day actual trading between 15192-15382
Conclusions from intra day chart analysis
Although positive opening but not sustaining at higher levels and down moves started. As Down moves were in Bullish Falling Channel therefore after that up moves were seen.
As three times good consolidation in Mid-session therefore up moves were seen in last hour and its continuation is expected in the coming sessions also.
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