Sustaining beyond today trading range will confirm next decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(20-12-2022)

Nifty-Intra Day Chart (19-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- Consolidation between 18322-18383(immediate supports)

3- Slow up moves in last hour

4- Whole day actual trading between 18245-18431

Conclusions from intra day chart analysis 

As some Asian markets were trading in Green and Dow Jones Futures was also trading with more than 100 points gains therefore firstly up moves after positive opening and after that consolidation in Mid-session between 18322-18383 hence up moves were seen in last hour also. Although most European markets were trading with good gains and Dow Jones Futures was also  more than 230 POints up but last hour up moves were slow therefore some profit booking also can not be ruled out during last hours positive sentiments. 

Both lower levels good buying and higher levels some selling also today therefore Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(18245-18431) and finally sustaining it beyond will confirm it which should be firstly watched tomorrow/in the coming sessions.

Immediate supports and resistances are as follows;-

1- 18322-18383 

2- 18509-18586

Firstly watch sustaining beyond 55-Day SMA for life and length of on going correction amid crashing Global markets

Technical Analysis,Research & 

Weekly Outlook(Dec 19 to Dec 23,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (16-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning

2- Wave-i of Wave-1 completion at 18096.2 on 15-09-2022.

3- Wave-ii of Wave-1 completion at 16747.7 on 30-09-2022.

4- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

5- Wave-iii of Wave-1 correction continuation towards Rising Trend Line-1 with recent bottom formation at 18255.2 on 16-12-2022.

Conclusions from EOD chart

analysis(Waves structure)

Corrective Wave-C of previous Waves structure completed at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure begun which is in continuation with recent top formation at 18887.6 on 01-12-2022.

Correction of Wave-iii of Wave-1 is in continuation towards Rising trendlene-1 with recent bottom formation at 18255.2 on 16-12-2022 and no indication of its completion yet on EOD Charts. 

Nifty-EOD Chart Analysis

(Wave-iii of Wave-1 Waves structure)

Nifty-EOD Chart (16-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-ii of Wave-1 completion at 16747.7 on 30-09-2022 & Wave-iii of Wave-1 beginning.

2- Impulsive Wave-i of Wave-iii of Wave-1 completion at 17428.8 on 06-10-2022.

3- Corrective Wave-ii of Wave-iii of Wave-1 completion at 16950.3 on 11-10-2022.

4- Impulsive Wave-iii of Wave-iii of Wave-1 completion at 18442.2 on 16-11-2022.

5- Corrective Wave-iv of Wave-iii of Wave-1 completion at 18133.3 on 21-11-2022.

6- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

7- Wave-a of Wave-iii of Wave-1 completion at 18345.7 on 12-12-2022.

7- Wave-a corrected 541.9 points

8- Wave-c of Wave-iii of Wave-1 completion at 18696.1 on 14-12-2022.

9- Wave-c of Wave-iii of Wave-1 continuation with recent bottom formation at 18255.2 on 16-12-2022.

10- On going Wave-c has corrected 440.9 points till 16-12-2022. 

Conclusions from EOD chart analysis

(Wave-iii of Wave-1 Waves structure)

Although Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022 but "abc" correction started which is in continuation with recent bottom formation at 18255.2 on 16-12-2022.

Now Wave-c of "abc" correction in on and as per following calculations it is correcting towards its minimum target at 18154.2:-

1- Wave-a corrected 541.9 points

2- Wave-c corrected 440.9 points

As per Elliott Wave Theory Wave-c will have correct 100% of Wave-a. As Wave-a corrected 541.9 points therefore Wave-c has to correct 101(541.9-440.9) more points and in this manner minimum target of Nifty will be 18154.2(18255.2-101) which will be seen in the coming week.  

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (16-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

2- Wave-iii of Wave-1 correction continuation with recent bottom formation at 18255.2 on 16-12-2022.

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

4- Stochastic:- %K(5)- 37.56 & %D(3)- 57.95.

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

6- MACD(26,12)- 27.05 & EXP(9)- 165.64 & Divergence- -138.59

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Short Term indicators are as follows:-

1- In Stochastic indicator %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over bought zone as well as not turned Over bought yet therefore showing more down moves possibilities in the coming week.

2- In MACD its MACD line has intersected Average line downward and its both lines are falling in positive zone as well as no line is moving flat therefore confirming that Short term Trend turning downward and more downward moves possibilities in the next week.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (16-Dec-2022):-

Technical Patterns and Formations in EOD charts

Averages:-

A- 5-Day SMA is today at 18535 

B- 21-Day SMA is today at 18521 

C- 55-Day SMA is today at 17959

D- 100-Day SMA is today at 17747 

E- 200-Day SMA is today at 17134

 

Conclusions from EOD chart analysis

 (Averages)

As Nifty has moved below both 5-Day and 21-Day SMA therefore Short Term Trend turning downward confirmations. As Intermediate Term Trend decider 55-Day SMA is at 17959 which less than 300 points from last Friday lowest(18,255.15) therefore firstly sustaining beyond 55-Day SMA should be watched in the coming week/weeks for Intermediate Term Trend formation confirmations.

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 Wave-iii of Wave-1 continuation and no confirmation of its completion yet but its"abc" correction is also on and no indication of its completion yet. As per above given calculations minimum 101 Points more correction will be seen in the coming week towards following next supports because Short Term indicators are also suggesting more down moves possibilities.:-

1- 18246-18272

2- 18198-18225 

3- 18134-18163

4- 17970-18012 

5- 17938-17964

6- 17724-17765 

7- 17655-17712

As Global markets crashed in previous week therefore down moves were seen in Indian markets also in last 2 sessions and more down moves are expected in the coming week also. Intermediate Term Trend decider 55-Day SMA(17959) is less than 300 points away from last Friday lowest(18,255.15) and more down moves are expected in the coming weel also. As it will decide life and length of on going "abc" correction and its turning down will mean doors of 3 weeks to 3 months correction opening with deeper correction beginning possibilities also therefore firstly sustaining beyond Intermediate Term Trend decider 55-Day SMA(17959) should be watched in next week for its confirmations.

Crashing Global markets 

& 

let Nifty to get supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-12-2022)

Nifty-Intra Day Chart (15-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Sharp fall after weaker opening

2- Down moves with upward corrections

3- Sharp fall in last hour

4- Whole day actual trading between 18388-18652

Conclusions from intra day chart analysis 

As depressing Global cues therefore firstly sharp fall after weaker opening and after selling through down moves with upward corrections was seen in the next 4 hours hence again sharp fall developed in last hour because Dow Jones Futures has also slipped down more than 200 points.

All the Global markets are in crashing mode today therefore more down moves can not be ruled out tomorrow also. Let Nifty to consolidate and get support within or near about following next 4 supports ranges then Short Term up moves will be considered:-

1- 18357-18405

2- 18246-18272

3- 18198-18225 

4- 18134-18163

Firstly watch immediate supports

 amid depressing Global cues

Post-open Outlook(15-12-2022)

As Nifty consolidated within following 2 ranges on 13-12-2022 therefore these are immediate supports and firstly sustaining them beyond should also be watched today for next intraday decisive moves beginning confirmations amid depressing Global cues led Indian markets today.

1- 18564-18603

2- 18491-18540

Firstly watch next supports after FED decision led weaker Global markets

Pre-open Outlook(15-12-2022)

As 0.50% rates hike with hawkish commentary by FED yesterday therefore all the US markets slipped sharply yesterday. In reaction all the Asian markets are down and few are in deep Red hence sentiment is depressed today morning and resultant weaker opening of Indian markets will be seen. Firstly sustaining beyond next supports(18411-18498) should be watched today morning for decisive intraday moves beginning confirmations.

Sustaining beyond 18633-18696 

will confirm next intraday decisive moves

Nifty-Intra Day Chart Analysis & Market 

Outlook(15-12-2022)

Nifty-Intra Day Chart (14-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Selling between 18674-18696

2- Down moves

3- Support between 18633-18655

4- Whole day actual trading between 18633-18696

Conclusions from intra day chart analysis 

Although firstly up moves after gap up strong opening but higher levels selling developed therefore some down moves were seen in Mid-session. As lower levels supports were also seen in last 2 hours therefore whole day trading will be understood with Mixed-Patterns formations hence Nifty will firstly trade and prepare for next intraday decisive moves within and near about 18633-18696 and finally sustaining it beyond confirm it which should be firstly watched in the coming session.

Up moves towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(14-12-2022)

Nifty-Intra Day Chart (13-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Consolidation between 18491-18540

2- Up moves

3- Consolidation between 18564-18603

4- Sharp up

5- Whole day actual trading between 18491-18617

Conclusions from intra day chart analysis 

As consolidation in first hour after positive opening and after that good follow up consolidation in Mid-session therefore sharp moves were seen in last hour, It is clear from today intrady pattern formations that only consolidation patterns developed and selling patterns were not seen therefore up moves are expected above today highest and towards following next resistances:-

1- 18647-18665

2- 18832-18854

 As busy therefore Stock Market Outlook of today(13-12-2022) is not being updated.

Live Proofs of our BJP victory projection by more than 150 seats in Gujarat Elections in November- 2022 

In whole World only we told in November 2022 that BJP will win more than 150 seats in Gujarat Assembly Elections-2022. As was told all that proved 100% true and BJP won 156 seats.

1- Our BJP victory projection by more than 150 seats in "English News Paper":-

2- Our BJP victory projection by more than 150 seats in both "English & Gujarati News Papers":-

3- Our BJP victory projection by more than 150 seats in "SGXNIFTY":-

4- Our BJP victory projection by more than 150 seats in our Blog "Enjoy Daily Profits":-

Just click following link and see live proofs of our above Prediction in our Blog on 26-11-2022:-

https://enjoydailyprofits.blogspot.com/2022/11/nifty-will-celebrate-more-than-150.html

Firstly watch next supports & resistances amid correction continuation expectations

Technical Analysis,Research & Weekly 

Outlook(Dec 12 to Dec 16,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (09-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning

2- Wave-i of Wave-1 completion at 18096.2 on 15-09-2022.

3- Wave-ii of Wave-1 completion at 16747.7 on 30-09-2022.

4- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

5- Short Term correction continuation with recent bottom formation at 18410.1 on 09-12-2022.

6- Slipping and closing below rising trendlene-2 on 09-12-2022.

 

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started from 15183.4 on 17-06-2022 after Corrective Wave-C of previous Waves structure completion.

Now impulsive Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022 but its Short Term correction begun and in continuation also with recent bottom formation at 18410.1 on 09-12-2022. As Nifty slipped and closed below rising trendlene-2 on 09-12-2022 therefore firstly sustaining it beyond should be watched in next week for the life and lenbth of on going correction.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (09-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

2- Stochastic-  Its both lines are kissing near Over sold zone.

3- Stochastic:- %K(5)- 22.67 & %D(3)- 22.68.

4- MACD-  Its both lines are kissing in positive zone.

5- MACD(26,12)- 210.96 & EXP(9)- 217.62 & Divergence- -6.66.

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Short Term indicators are as follows:-

1- In Stochastic indicator its both lines are kissing near Over sold zone and at present not showing any side Short Term moves beginning signals. As its both lines are near Over sold zone therefore if its %K(5) line ntersects %D(3) line upward then will indicate Short Term up moves beginning otherwise previous week started correction will remain continued.

2- In MACD its both lines are kissing in positive zone therefore not showing any Short Term trend signal. Let any side clear intersection happen then next Short Term trend will be considered according to its cross over direction. As its both lines are in positive zone therefore upward intersection will mean fresh strong rally beginning after upwards trend formation confirmations

Nifty-Intra Day Chart Analysis

(09-Dec-2022)

Nifty-Intra Day Chart (09-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- Consolidation between 18411-18498

3- Whole day actual trading between 18411-18664

Conclusions from intra day

chart analysis 

Although gap up opening last Friday but selling started through down moves with upward corrections and Nifty closed 0.61% down. As lower levels consolidation was seen between 18411-18498 therefore firstly up moves are expected towards last Friday highest(18664) in the beginning of next week. 

As good intraday selling was seen above 18498 therefore complete follow up consolidation is also required for decisive up moves beginning hence it should also be firstly watched.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is up.

3- Short Term Trend is down

Wave-iii of Wave-1 continuation but Short Term correction begun after higher levels good selling in previous week and no confirmation of its completion yet on EOD and Intraday charts. As Short Term indicators are also not showing any side decisive moves beginning indication and lower levels some intraday supports were also seen between 18411-18498 last friday therefore sustaining it beyond should be firstly watched in the beginning of next week for:-

Sustaining above 18498 will mean rally towards following next resistances:-

1- 18543-18567

2- 18584-18628

3- 18647-18665

4- 18832-18854

Sustaining below 18411 will mean on going correction continuation towards following next supports:-

1- 18411-18498

2- 18357-18405

3- 18246-18272

4- 18198-18225 

5- 18134-18163

Its clear that correction is very much on and no confirmation of its completion. Above mentioned multiple resistances are lying above last Friday closing(18496.60) therefore complete consolidation is required for fresh rally beginning above life time highest and fresh selling will mean correction continuation towards above mentioned supports. 

As Nifty is not prepared for any side big decisive moves beginning therefore sustaining beyond above mentioned supports and resistances should be firstly watched one by one in the coming week for immediate next move beginning amid correction continuation expectations.

Remain cautious after 127 points 

fall in first 2 hours today

Mid-session Outlook(09-12-2022)

Following conclusive were told at 11:50 PM yesterday in"Up moves towards next resistances":-

up moves are expected towards next

 resistances between 18651-18665.

As was told yesterday 100% same happened today and today highest is at 18664.70 which is just below 18665.

Nifty slipped 127 points in first 2 hours to 18537.45. As this lowest of today is just above last 2 sessions lowest(18529) and intraday supports were seen above it yesterday therefore firstly sustaining it beyond should be watched today. Remain cautious also because once sustaining below 18529 will mean down moves beginning towards next supports( 18357-18405) which is much below it.

Up moves towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-12-2022)

Nifty-Intra Day Chart (08-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Firstly more than 3 hours elections results led volatility

2- Up moves with downward corrections

3- Whole day actual trading between 18537-18625

Conclusions from intra day

chart analysis 

Although firstly slipping after opening but got supports within yesterday mentioned mentioned 1st supports range(18527-18554) at 18,536.95 and after that elections results led volatility was seen in the next more than 3 hours. 

As last more than 2 hours up moves were with downward corrections therefore up moves are expected towards next resistances between 18651-18665.

Down moves towards next 

supports amid elections 

results led volatility

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-12-2022)

Nifty-Intra Day Chart (07-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channel

2- Sharp fall

3- Up moves in Bearish Rising Channel

4- Selling between 18586-18613

5- Sharp fall in last hour

6- Whole day actual trading between 18529-18668

Conclusions from intra day

chart analysis 

Although firstly up moves after flat opening but up moves were in Bearish Rising Channel therefore sharp fall was seen after that. Again up moves in Bearish Rising Channel and after that selling between 18586-18613 in Mid-session therefore again sharp fall developed in last hour.

As whole day selling patterns formation today therefore down moves are expected towards following next supports but remain cautious because market may remain elections results led volatile therefore remain cautious also:-

1- 18527-18554

2- 18357-18405

Firstly watch today lowest after 

down moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(07-12-2022)

Nifty-Intra Day Chart (06-Dec-2022):-

Technical Patterns formation in today intraday charts

1- 123 Points fall in first 10 minutes after weaker opening.

2- Selling between 18622-18654

3- Minor consolidation between 18578-18601

4- Whole day actual trading between 18578-18654

Conclusions from intra day

chart analysis 

As firstly 123 Points fall in first 10 minutes after weaker opening and after that higher levels more selling than lower levels minor consolidation therefore firstly down moves are  expected towards today lowest. 

Firstly sustaining beyond today lowest should be watched tomorrow for deeper correction beginning confirmations because higher levels too much was not seen and if fresh consolidation develops near about today lowest then decisive up moves will begin.

18592-18728 will confirm next 

intraday decisive moves

Nifty-Intra Day Chart (05-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Firstly slipping more than 100 points after flat opening

2- Whole day only intraday volatility

3- Whole day actual trading between 18592-18728

Conclusions from intra day chart analysis 

Although firstly slipping more than 100 points after flat opening but after that whole day only intraday volatility and one sided trading patterns were not seen therefore firstly sustaining beyond today trading range(18592-187280 should be watched tomorrow for next intraday decisive moves beginning confirmations.

 Finally rally above life time highest after expected Short Term correction completion

Technical Analysis,Research & Weekly 

Outlook(Dec 05 to Dec 09,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (02-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning

2- Wave-i of Wave-1 completion at 18096.2 on 15-09-2022.

3- Wave-ii of Wave-1 completion at 16747.7 on 30-09-2022.

4- Wave-iii of Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022. 

Conclusions from EOD chart 

analysis(Waves structure)

Highest of previous Waves structure and Nifty life time top was at 18604.50. This levels was broken out ie crossed on 28-11-2022 and new Waves structure begun which is in continuation with recent top formation at 18887.6 on 01-12-2022. 

As new Waves structure beginning and Indian markets are most Bullish therefore such up moves of nifty will be expected as was seen in previous Waves structure in which Nifty gained 11093.4 points in almost 21 months during its Bullish journey from 7511.10 on 24-03-2020 to 18604.50 on 19-10-2021.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (02-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022.

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

3- Stochastic:- %K(5)- 79.29 & %D(3)- 84.75.

4- MACD- Its both lines are kissing in positive zone.

5- MACD(26,12)- 214.93 & EXP(9)- 217.59 & Divergence- -2.66

Conclusions from EOD chart analysis

(Stochastic & MACD)

Impulsive Wave-1 continuation with recent top formation at 18887.6 on 01-12-2022 and no indication of its completion yet on EOD charts. Positions of Short Term indicators are as follows:-

1- In Stochastic indicator %K(5) line has intersected %D(3) line downward and its both lines are falling in Over bought zone therefore suggesting strong signals of Short Term correction beginning.

2- In MACD its both lines are kissing in positive zone therefore not showing any Short Term signal. Let any side intersection happen then Short Term trend should be understood according to its cross over direction.

Nifty-Intra Day Chart Analysis

(02-Dec-2022)

Nifty-Intra Day Chart (02-Dec-2022):-

Technical Patterns formation in today intraday charts

1- More than 100 points down in first hour after weak opening

2- Selling between 18691-18713

3- Sharp fall in Mid-session

4- Up moves with downward corrections in last 3 hours.

5- Whole day actual trading between 18640-18781

Conclusions from intra day

 chart analysis 

As firstly more than 100 points down in first hour after weak opening and after that selling between 18691-18713 therefore sharp fall was seen in Mid-session. Last 3 hours Up moves were with downward corrections also therefore lower levels consolidation will also be understood hence last friday trading will be understood with Mixed patterns formations because higher levels selling and lower levels buying was seen. 

Expected that Nifty will firstly trade and prepare for next decisive moves within and near about last Friday trading range(18640-18781) and finally sustaining beyond this range will confirm it hence should be firstly watched in the beginning of next week.

Conclusions

(After putting all studies together)

All the trends are up and Wave-1 of newly developed Waves structure continuation with recent top formation at 18887.6 on 01-12-2022 as well as no confirmation of its completion yet on EOD and intraday charts. 

As Short Term indicators are showing Short Term correction beginning signals and higher levels selling was seen in last 2 sessions also therefore some down more moves may also be seen in next week but lower levels some consolidation was also seen above 18640 last Friday therefore firstly sustaining it beyond should be watched in next week for Short term correction beginning first strong signal. Next supports and resistances of Nifty are as follows:-

Next Supports are as follows:-

1- 18617-18666

2- 18527-18554

3- 18357-18405

4- 18246-18272

5- 18198-18225 

6- 18134-18163

Next Resistances are as follows:-

1- 18691-18713

2- 16639-18868

As sentiment has turned heated after Wave-1 strong rally and new life time top formation therefore higher levels selling was seen in previous week. As Short Term indicators are also showing short Term correction beginning signals therefore Short Term correction may be firstly seen towards above mentioned supports in next week but expected that finally rally above life time highest(18887.6) will be seen after expected Short Term correction completion.

Sustaining beyond 18823-18854 will confirm next intraday decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-12-2022)

Nifty-Intra Day Chart (01-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Down moves after gap up strong opening

2- More than 4 hours sideways trading between 18823-18854 

3- Whole day actual trading between 18779-18887

Conclusions from intra day

chart analysis 

Although gap up strong opening but firstly down moves were seen. As after that more than 4 hours sideways trading between 18823-18854 which means that one sided intraday trading patterns not seen therefore firstly sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Finally up moves continuation expectations amid only Very short Term/intraday correction possibility

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-12-2022)

Nifty-Intra Day Chart (30-Nov-2022):-

Technical Patterns formation in today intraday charts

1- More than 5 hours consolidation between 18617-18702(immediate strong supports)

2- Sharp up moves in last half hour

3- Whole day actual trading between 18617-18816

Conclusions from intra day chart analysis 

As firstly more than 5 hours consolidation between 18617-18702 and intraday selling patterns were not seen therefore sharp up moves developed in last half hour. Finally up moves continuation is expected amid only Very short Term/intraday correction possibility because Short Term indicators have turned Overbought after today sharp up moves.  

Immediate strong supports between 18617-18702 and until complete intraday selling patterns will not develop till then decisive down moves will not be seen below 18617 therefore it should be finally watched if Global weakness led down moves develop in Indian markets also.

 As busy therefore Stock Market Outlook of today(30-11-2022) is not being updated.

Next supports will confirm intraday 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-11-2022)

Nifty-Intra Day Chart (28-Nov-2022):-

Technical Patterns formation in today intraday charts

1- 3 Hours up moves in Bearish Rising Channel 

2- Selling between 18578-18614(immediate Resistances)

3- Down moves in last hour

4- Whole day actual trading between 18500-18614

Conclusions from intra day chart analysis 

As all the Asian markets were trading weak and Dow Jones Futures was also trading more than 100 points down today morning therefore firstly negative opening of indian markets and after that up moves were seen. As these 3 hours up moves were in Bearish Rising Channel and after that higher levels selling also therefore down moves developed in last hour. 

Sentiment turned boosted after new life time top formations today therefore higher levels selling developed hence some down moves in last hour. As firstly 3 hours up moves in Bearish Rising Channel and after that higher levels selling therefore firstly down moves will be seen towards next supports(18357-18405) and finally sustaining beyond this range should be watched for intraday decisive moves beginning confirmations.

Nifty will celebrate more than 150 

seats BJP victory expectations in 

Gujarat polls through rally above 

life time highest

Technical Analysis,Research & Weekly 

Outlook(Nov 28 to Dec 02,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (25-Nov-2022):-

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 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. 

7- Wave-A completion at 16410.20 on 20-12-2021.

8- Wave-B completion at 18351.00 on 18-01-2022.

9- Wave-C bottom formation at 15671.5 on 08-03-2022.

10- Wave-X completion at 18114.70 on 04-04-2022.

11- Wave-A completion at 15735.80 on 12-05-2021.

12- Wave-B completion at 16793.80 on 03-06-2022.

13- Wave-C completion at 15183.4 on 17-06-2022.

14- Wave-X continuation with recent top formation at 18534.90 on 25-11-2022.

15- More than 13 months "ABC" correction continuation with Double Zig-Zag pattern formation

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 started from 7511.10 on 24-03-2020 and new Waves structure begun which completed at 18604.50 on 19-10-2021 and "ABC" correction commenced that finally converted into Double Zig-Zag pattern. As this waves structure gained 11093.4 points in almost 21 months and its "ABC" correction corrected 3421.1 points in the last more than 13 months which is 30.84% of its impulsive Waves gains therefore strong signals of Price wise and Time wise correction completion generated within sideways market between 15183.4-18604.50.

Now Wave-X of Double Zig-Zag correction continuation with recent top formation at 18534.90 on 25-11-2022 and no indication of its completion yet on EOD charts. Wave-X has gained 3351.50 points in the last 5 months and remained only 69.6 points shorter from life time top at 18604.50. 

Nifty-EOD Chart Analysis 

(Stochastic & MACD)

Nifty-EOD Chart (25-Nov-2022):-

Technical Patterns and Formations in EOD charts

1- Wave-C completion at 15183.40 on 17-06-2022 and Wave-X beginning.

2- Wave-X continuation with recent top formation at 18534.90 on 25-11-2022.

3- Wave-X gained 3351.50 points in last 5 months. 

4- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over bought zone.

5- Stochastic:- %K(5)- 76.70 & %D(3)- 54.80.

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

7- MACD(26,12)- 219.05 & EXP(9)- 313.84 & Divergence- -94.79

Conclusions from EOD chart analysis 

(Stochastic & MACD)

Wave-X continuation after gaining  3351.50 points in the last 5 months with recent top formation at 18534.90 on 25-11-2022 and no signal of its completion yet. Positions of Short Term indicators are as follows:-

 

1- In Stochastic indicator %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over bought zone therefore showing signals of more up moves.

2- In MACD its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore showing signals of some more down moves .

Nifty-Intra Day Chart Analysis

(25-Nov-2022)

Nifty-Intra Day Chart (25-Nov-2022):-

Technical Patterns formation in today intraday charts

1- Slipping after positive opening

2- Down moves in Bullish Falling Channels

3- Up moves with downward corrections

4- Whole day actual trading between 18446-18534

Conclusions from intra day 

chart analysis 

Although positive opening but firstly slipping from intraday higher levels last Friday. As lower levls consolidation through  Down moves in Bullish Falling Channels and after that up moves with downward corrections also therefore expected that fresh up moves will be seen in next week above last Friday highest(18534.90).

Conclusions (After putting all studies together)

Bullish Wave-X forcefully continuation and All the trends are up. As no signal of Wave-X completion on EOD and intraday charts therefore its continuation is expected in the coming weak. Short Term indicators are also showing signals of more up moves without deeper correction therefore finally rally will be expected after Short Term corrections completion.

Strong signals of Price wise and Time wise "ABC" correction completion generated in sideways market between 15183.4-18604.50 in the last 13 months after on going Wave-X continuation with 3351.50 points gains in the last 5 months. As Wave-X has remained only 69.6 points shorter from life time top at 18604.50 therefore it may move above it any day in the coming week/weeks and in this manner it will confirm new Waves-structure formation from 15183.40 on 17-06-2022 as well as in that situation Wave-X will be converted into Wave-1 of new Waves-structure   

No immediate resistance above last friday highest and following supports are lying below last Friday lowest which should be watched in the situation of Short Term correction beginning:-

1- 18357-18405

2- 18246-18272

3- 18198-18225 

4- 18134-18163

As strong signals of BJP victory by more than 150 seats in upcoming Gujarat assembly polls and it will impact positively of BJP victory prospects in 2024 Parliamentary elections also therefore Indian Stock markets are most Bullish in whole world hence Nifty will rally above life time highest(18604.50) because BJP victory means speedy economic and industrial growth after most honest and strong Central Government formation in 2024 under Modi ji leadership which is the guarantee of all around Indian strength,growth and prosperity.