Watch next resistances amid strong 

pull Back Rally beginning possibility

Technical Analysis,Research & Weekly 

Outlook(Jan 16 to Jan 20,2023)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (13-Jan-2023):-

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

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

4- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

5- Corrective Wave-iv of Wave-1 continuation with recent bottom formation at 17761.70 on 12-01-2023.

6- Last 16 sessions sideways trading between 17762-18265 

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 started which is in continuation through its Wave-iii and this wave was completed at 18887.6 on 01-12-2022.

Now Corrective Wave-iv of Wave-1 is in continuation with recent bottom formation at 17761.70 on 12-01-2023 and no confirmation of its completion yet. As Last 16 sessions sideways trading between 17762-18265 and finally sustaining beyond this range will confirm the life and length of  Wave-iv of Wave-1 therefore sustaining beyond this range should be watched in the coming week/weeks for next trend formation confirmations. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (13-Jan-2023):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

2- Corrective Wave-iv of Wave-1 continuation with recent bottom formation at 17761.70 on 12-01-2023.

3- Stochastic- Its both lines are kissing just above Over sold zone.

4- Stochastic:- %K(5)- 35.24 & %D(3)- 34.34.

5- In MACD- Its both lines are kissing in negative zone.

6- MACD(26,12)- -162.48 & EXP(9)- -186.15 & Divergence- -23.67

Conclusions from EOD chart

analysis (Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- In Stochastic its both lines are kissing just above Over sold zone therefore at present not clearly indicating any side direction. As both lines are just above Over sold zone therefore upside intersection will mean Short Term strong moves beginning  .

2- In MACD its both lines are kissing in negative zone therefore suggesting indecisiveness. Let one sided clear cross over happen then that sided trend will be understood.

Nifty-Last 2 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Jan 12 & Jan 13,2023):-

Technical Patterns formation in last 16 Sessions intraday charts

1- Selling between 17906-17945 on 12-01-2023

2- Sharp fall on 12-01-2023

3- More than 5 hours consolidation between 17762-17851 on 12-01-2023

4- More than 2 hours consolidation between 17775-17831 on 13-01-2023

5- Sharp up on 13-01-2023

6- Selling between 17939-17999 on 13-01-2023

7- Last 2 Sessions actual trading between 17762-17999

Conclusions from 2 Sessions

intra day chart analysis 

As lower levels more than 7 hours good consolidation between therefore this range will be strong supports and until complete selling will not develop till then decisive down moves will not be seen below last 2 sessions lowest(17762). 

Although sharp up moves were seen from lower levels last Friday but higher levels selling developed between 17939-17999 therefore firstly sustaining above 18000 should be watched in the coming week for strong Pull Back rally continuation confirmations because 18000 is a psychological level also.

Conclusions (After putting

all studies together)

1- Short Term Trend is sideways between 17762-18141.

2- Intermediate Term Trend is at stake and finally sustaining below its decider 55-Day SMA(today at 18270) will confirm it. its downward trend formations.

3- Long Term Trend is up.

Corrective Wave-iv of Wave-1 continuation and no confirmation of its completion yet. As Short Term indicators have turned Oversold and lower levels good consolidation between 17762-17851 in last 2 sessions which was within and near about next supports range {17796-17879) as well as last Friday closing was above all these supports and consolidation ranges therefore a strong rally beginning possibility has emerged. Both Short Term indicators Stochastic and MACD are not showing any side deciding moves beginning indications but Stochastic is just above sold zone therefore once up moves beginning will mean Stochastic will generate up moves beginning signals and resultant strong pull Back Rally will be seen towards following next resistances:- 

1- 17939-17999

2- 18084-18141

3- 18112-18153

4- 18216-18240

5- 18345-18387(Strong resistances)

Next supports are as follows;-

1- 17762-17851

2- 17724-17765 

3- 17655-17712

4- 17477-17591

5- 17381-17401(Gap support)

6- 17226-17374

Today highest will confirm strong 

Pull Back rally beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(13-01-2023)

Nifty-Intra Day Chart (12-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Selling between 17906-17945

2- Sharp fall

3- More than 5 hours consolidation between 17762-17851

4- Whole day actual trading between 17762-17945

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but selling developed therefore sharp fall was seen in first hour. As more than 5 hours consolidation between 17762-17851 which was within and previous supports range(17796-17879) therefore this supports range has strengthened and firstly up moves are expected towards today intraday selling range(17906-17945)

Finally sustaining above today highest should be watched in the coming sessions for strong Pull Back rally beginning confirmations.

Crucial supports range will confirm 

next big moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(12-01-2023)

Nifty-Intra Day Chart (11-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Almost whole day sideways trading between 17867-17976 

2- Whole day actual trading between 17825-17976

Conclusions from intra day chart analysis 

Previous supports between 17796-17879 was posted in both previous Outlooks and:- 

1- Nifty got supports within this range between 17856-17925 yesterday.

2- Nifty traded whole day within and above this range today.

As Nifty traded within this previous supports range and closed above it also in both previous sessions therefore this supports range has become crucial and firstly sustaining it beyond should be watched in the coming sesions for next big moves beginning confirmations.

17796-17879 will confirm next 

intraday decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-01-2023)

Nifty-Intra Day Chart (10-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- Support between 17856-17925

3- Whole day actual trading between 17856-18127

Conclusions from intra day chart analysis 

As weaker Global sentiments therefore down moves started which were with upward corrections ie with intraday selling patterns formations therefore down moves remained continued till 01:40 PM.  

Previous supports were between 17796-17879 and Nifty got supports within this range today and closed above it at 17914 today therefore sustaining beyond 17796-17925 should be firstly watched tomorrow for next intraday decisive moves beginning confirmations. 

Watch next supports amid Chinese 

Corona spreading news led 

depressed Global cues 

Post-open Outlook(10-01-2023)

Although Nifty opened positive but Nifty moved into negative zone because  sentiment was depressed today morning due to:-

1- Dow Jones Future was trading more than 100 points down today morning after its more than 100 points down closing yesterday

2- Most Asian markets were trading flat to Red

As Selling between 18084-18141 yesterday and sentiment turned weaker due to Global markets therefore Nifty could not sustain at higher levels and slipped therefore this range will be immediate resistance of Nifty. Next supports are between 17796-17879 which should be firstly watched amid Chinese Corona spreading news led depressed Global cues. 

 Up moves above today highest 

and towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-01-2023)

Nifty-Intra Day Chart (09-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections after strong opening

2- Selling between 18084-18141

3- Sharp fall

4- Up moves with downward corrections

5- Whole day actual trading between 17937-18141

Conclusions from intra day chart analysis 

Although firstly up moves with downward corrections after strong opening but higher levels selling dedveloped therefore sharp fall was seen in Mid-session. As again Up moves with downward corrections therefore 100 points recovery was seen and today closing was 1.35% up.

As up moves with downward corrections therefore good intraday consolidation will be understood and fresh up moves are expected above today highest as well as towards next resistances between 18216-18240 Sustaining beyond this resistance should be firstly watched tomorrow for next intraday decisive moves beginning confirmations.

Firstly up moves & finally 55-Day SMA at 18243 will confirm next trend

Technical Analysis,Research & Weekly Outlook

(Jan 09 to Jan 13,2023)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (06-Jan-2023):-

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

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

4- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

5- Corrective Wave-iv of Wave-1 continuation with recent bottom formation at 17774.30 on 26-12-2022 

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure begun from 15183.4 on 17-06-2022 and its impulsive Wave-iii completed at 18887.6 on 01-12-2022. Now corrective Wave-iv of Wave-1 is in continuation with recent bottom formation at 17774.30 on 26-12-2022 and no confirmation of its completion yet on EOD and intraday charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (06-Jan-2023):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

2- Corrective Wave-iv of Wave-1 continuation with recent bottom formation at 17774.30 on 26-12-2022

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

4- Stochastic:- %K(5)- 19.71 & %D(3)- 41.76.

5- In MACD- MACD line has intersected Average line upward and its both lines are rising in negative zone.

6- MACD(26,12)- -177.20 & EXP(9)- -253.55 & Divergence- 76.35

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of weekly 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 sold zone but little above Over sold zone therefore suggesting up moves beginning possibilities after some more down moves.

2- In MACD Its MACD line has intersected Average line upward and its both lines are rising in negative zone therefore showing upward trend formation indications.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (06-Jan-2023):-

Technical Patterns and Formations in EOD charts

Averages:-

A- 5-Day SMA is today at 18064 

B- 21-Day SMA is today at 18227 

C- 55-Day SMA is today at 18243

D- 100-Day SMA is today at 17903

E- 200-Day SMA is today at 17257

 

Conclusions from EOD chart analysis

(Averages)

As finally Nifty closed below Intermediate Term trend decider 55-Day SMA(18243) in the last 3 sessions after 7 sessions hovering it around and Nifty closed below 100-Day SMA(17903) also last Friday therefore high possibility of Intermediate Term trend turning down emerged which will mean minimum 3 Weeks to 3 months long correction. Although Long Term Trend is still intact because Nifty is well abone its decider 200-Day SMA but will be at stake after confirmation of Nifty sustaining below 55-Day SMA because in that situation deeper correction possibility will increase .

Nifty-EOD Chart Analysis

(Fibonacci retracement levels)

Nifty-EOD Chart (06-Jan-2023):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-ii of Wave-1 completion at 16747.7 on 30-09-2022 and Impulsive Wave-iii of Wave-1 begun.

2- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022  

3- Fibonacci Retracement levels of Impulsive Wave-iii which started from 16747.7 and completed at 18887.6.

4- Fibonacci retracement levels(16747.7-18887.6) are as follows:-

13.0%- 18609

23.6%- 18382

27.0%- 18309

38.2%- 18070

50.0%- 17817

61.8%- 17565

70.7%- 17374

76.4%- 17252

78.6%- 17205

88.6%- 16991

Conclusions from EOD chart analysis(Fibonacci retracement levels)

Impulsive Wave-iii of Wave-1 begun after corrective Wave-ii of Wave-1 completion at 16747.7. Wave-iii of Wave-1 completed at 18887.6 and now its corrective Wave-iv of Wave-1 is in continuation with recent bottom formation at 17774.30 on 26-12-2022. As correction is on and no confirmation of its completion yet therefore above mentioned Fibonacci retracement levels of Wave-iii of Wave-1 should be watched one by one for the confirmations of on going correction continuation/completion.

As Long term trend decider 200-Day SMA is today at 17257 and 76.4% retracement levels is just below it at 17252 therefore this level becomes most crucial which should be watched carefully if correction remains continued up to these levels.

Nifty-Intra Day Chart Analysis

(06-Jan-2023)

Nifty-Intra Day Chart (06-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after flat opening.

2- Down moves with upward corrections.

3- Down moves in Bullish Falling Channel.

4- Last more than 2 hours consolidation between 17796-17879

5- Whole day actual trading between 17796-18047.

Conclusions from intra day chart analysis 

Although firstly up moves after flat opening but selling was seen through Down moves with upward corrections therefore Nifty slipped 251 points from intraday higher levels. As post 12 O' clock  Down moves were in Bullish Falling Channel and after that consolidation between 17796-17879 in the last more than 2 hours therefore lower levels good intraday consolidation will be concluded and firstly up moves will be seen in the beginning of next week.

Conclusions

(After putting all studies together)

1- Short Term Trend is down.

2- Intermediate Term Trend is at stake and finally sustaining below its decider 55-Day SMA(today at 18243) will confirm it. its downward trend formations.

3- Long Term Trend is up.

Corrective Wave-iv of Wave-1 continuation and no confirmation of its completion yet on EOD and intraday charts but lower levels good intraday consolidation was seen last Friday between 17796-17879 therefore firstly up moves will be seen in the beginning of coming week towards following next resistances:-

1- 17920-17947

2- 18010-18067

3- 18112-18153

4- 18216-18240

5- 18345-18387(Strong resistances)

Although firstly up moves will be seen in the beginning of coming week but if Nifty fails to cross above mentioned resistances and fresh down moves starts then firstly sustaining beyond next crucial 61.8% retracement level(17565) and after that 200-Day(17257) should be watched one by one for the confirmations of on going correction continuation/completion.

As Stochastic indicator is showing some more down moves possibilities but MACD is suggesting upward trend formation indications therefore finally decisive up moves will be expected after some more down moves towards following next supports;-

1- 17724-17765 

2- 17655-17712

3- 17477-17591

4- 17381-17401(Gap support)

5- 17226-17374

 

As firstly up moves are expected in the beginning of coming week therefore sustaining beyond 55-Day SMA(18243) should be watched for the life and length of on going correction because it will decide next 3 weeks to next 3 months Intermediate Term Trend.

Sideways trading expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(06-01-2023)

Nifty-Intra Day Chart (05-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Selling between 18035-18120(immediate Resistances)

2- Down moves with upward corrections

3- 2 Hours consolidation between 17893-17946(immediate supports)

4- Sharp up moves in last half hour

5- Whole day actual trading between 17893-18120

Conclusions from intra day chart analysis 

Although positive opening but selling developed therefore could not sustain at higher levels and down moves were seen which were with upward corrections hence follow up selling will be understood in Mid-session. 2 Hours lower levels consolidation also between 17893-17946 therefore sharp up moves in last half hour

As both higher levels good selling and lower levels equally good consolidation also therefore whole day today trading will be understood with Mixed Patterns formation between 17893-18120 and sideways trading is expected tomorrow within today trading range.

Strong supports range will confirm on going Short Term correction continuation/completion

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-01-2023)

Nifty-Intra Day Chart (04-Jan-2023):-

Technical Patterns formation in today intraday charts

1- 129  Points shart fall in first 45 minutes.

2- 123 Points fall in Mid session

3- 2 Hours slow up moves 

4- Sharp fall in last hours

5- Whole day actual trading between 18021-18243

Conclusions from intra day chart analysis 

Although flat opening but almost whole day down moves were seen except 2 hours slow up moves after 12 O'clock. As good consolidation was seen between 17993-18055 on 29-12-2022 and today lowest with closing also was within this range therefore firstly sustaining beyond this strong supports range should be watched tomorrow for on going Short Term correction continuation/completion confirmations.

Last 4 sessions trading range will

 confirm next one sided decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-01-2023)

Nifty-Intra Day Chart (03-Jan-2023):-

Technical Patterns formation in today intraday charts

1- Sharp up moves after weaker opening

2- Selling between 18216-18240

3- Sharp fall in Mid-Session

4- Up moves with downward corrections

5- Selling between 18225-18251

6- Whole day actual trading between 18150-18251

Conclusions from intra day chart analysis 

Although firstly weaker opening but sharp up moves were seen after that. As selling was seen between 18216-18240 therefore sharp fall developed in Mid-Session also. Again up moves with downward corrections but follow up selling in last hours. As whole day today trading was with both consolidation and selling therefore today trading will be understood Mixed Patterns formation between 18150-18251.    

As last 4 sessions trading between 17993-18265 with both higher levels selling and lower levels consolidation therefore firstly sustaining beyond this range should be watched tomorrow for next one sided decisive moves beginning confirmation.

 As out of station therefore Stock Market Outlook of today(03-01-2023) is not being updated.

Firstly sideways trading between 

17799-18387 & finally its valid break out

 will form next trend

Technical Analysis,Research & Weekly 

Outlook(Jan 02 to Jan 06,2023)

Nifty-Weekly Chart Analysis

(Waves structure)

Nifty-Weekly Chart (30-Dec-2022):-

Technical Patterns and Formations in weekly 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- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

5- Corrective Wave-iv of Wave-1 continuation with recent bottom formation at 17779.50 on 23-12-2022.

6- Bullish Harami candle formation in previous week.

 

Conclusions from Weekly chart

analysis(Waves structure)

New Waves structure which started through its impulsive Wave-1 from 15183.4 on 17-06-2022 is in continuation. Now its corrective Wave-iv of Wave-1 is in continuation with recent bottom formation at 17779.50 on 23-12-2022 and no confirmation of its completion yet.

As Bullish Harami candle formation in Weekly chart of previous week therefore first signal of Wave-iv of Wave-1 completion emerged but sustaining above previoud week candle highest(18473.3) is must for its confirmations. 

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (30-Dec-2022):-

Technical Patterns and Formations in weekly charts

1- Impulsive Wave-1 of new Waves structure beginning from 15183.4 on 17-06-2022. 2- Impulsive Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

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)- 16.73 & %D(3)- 31.56.

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

6- MACD(26,12)- 539.82 & EXP(9)- 569.21 & Divergence- -29.39

7- MACD is showing negative/positive divergence

Conclusions from Weekly chart

analysis (Stochastic & MACD)

Positions of weekly 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 sold zone therefore some more down moves possibilities.

2- In MACD Its both lines are kissing in positive zone therefore suggesting indecisiveness. Let one sided clear cross over happen then that sided trend will be understood.

Nifty-Last 2 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Dec 29 & Dec 30,2022):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Consolidation between 17993-18055(immediate supports) on 29-12-2022.

2- Sharp up in last 2 hours on 29-12-2022.

3- Selling between 18198-18265(immediate Resistances) on 30-12-2022.

4- Sharp fall in last half hour on 30-12-2022.

5- Last 2 Sessions actual trading between 17993-18265. 

Conclusions from 2 Sessions

intra day chart analysis 

As more than 4 hours good consolidation near about psychological level 18000 on 29-12-2022 therefore sharp up moves were seen in last 2 hours. In the same manner more than 4 hours good selling therefore sharp fall developed in last half hour on 30-12-2022.

It is clear that last 2 sessions intraday trading will be understood with mixed Patterns formation between 17993-18265 therefore firstly sustaining beyond this range should be watched in the coming week for the next one sided decisive moves beginning confirmations.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is at stake and finally sustaining beyond 55-Day SMA(today at 18174) will confirm it.

3- Short Term Trend is sideways between 17775-18473.

Corrective Wave-iv of Wave-1 continuation and no confirmation of its completion yet. As on going correction completion first signal was seen through weekly Bullish Harami candle formation therefore firstly sustaining beyond last 2 weeks trading range(17775-18473) should be watched in the coming week for on going correction continuation/completion.

As Stochastic indicator is showing some more down moves possibilities therefore it can not be ruled out but good intraday consolidation between 17993-18055 on 29-12-2022 hence firstly sustaining it beyond should be watched in next week for decisive down moves beginning confirmations.

Immediate supports are as follows:-

1- 17993-18055

2- 17922-17943

3- 17799-17864

Immediate resistances are as follows:-

1- 18198-18265

2- 18345-18387(Strong resistances)

As both lower levels supports and higher levels equally strong resistances are lying between 17799-18387 therefore expected that firstly sideways trading will be seen within this range and finally its valid break out will confirm next trend which should be watched in next week.

Mid-session Outlook(30-12-2022)

up moves above yesterday highest(18229) and towards following next resistances was expected and it was seen also as well as Nifty traded most time in Green since opening today. 

As some selling patterns were also seen between 18233-18265 today therefore it will be immediate resistance and firstly sustaining above it should be watched today for next intraday decisive up move beginning confirmations.

Up moves towards next resistances

Nifty-Intra Day Chart Analysis & Market 

Outlook(30-12-2022)

Nifty-Intra Day Chart (29-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Consolidation between 17993-18055

2- Sharp up moves in last 2 hours

3- Whole day actual trading between 17993-18229

Conclusions from intra day chart analysis 

 

Following lines were told at 07:38 PM yesterday in "Down moves below today lowest & towards 18000":-

1- down moves are expected below today lowest and towards 18000

2- Firstly sustaining beyond 18000 should be watched tomorrow for next intraday decisive move beginning confirmations.

As was told 100% same happened and Nifty moved down below yesterday lowest as well as moved up sharply after testing 18000.

Although firstly slipping below 18000 after weaker opening but lower levels more than 4 hours good consolidation near about 18000 therefore sharp up moves in last 2 hours. As intraday selling patterns were not seen and good intraday consolidation today therefore up moves are expected above today highest and towards following next resistances:-

1- 18345-18387

2- 18559-18586

Down moves below today lowest & towards 18000

Nifty-Intra Day Chart Analysis & 

Market Outlook(29-12-2022)

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

Technical Patterns formation in today intraday charts

1- Support between 18078-18109

2- Selling between 18131-18149

3- Selling between 18147-18173

4- Whole day actual trading between 18069-18173

Conclusions from intra day

chart analysis 

Although lower levels some supports but higher levels good selling therefore down moves are expected below today lowest and towards 18000. Firstly sustaining beyond 18000 should be watched tomorrow for next intraday decisive move beginning confirmations.

 As busy therefore Stock Market Outlook of today(28-12-2022) is not being updated.

Sustaining beyond levels will confirm

 next intraday decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(27-12-2022)

Nifty-Intra Day Chart (26-Dec-2022):-

Technical Patterns formation in today intraday charts

1- Up moves after positive opening

2- Up moves with downward corrections

3- Selling between 18055-18084

4- 99 Points sharp fall in last half hour

5- Whole day actual trading between 17775-18084

Conclusions from intra day

chart analysis 

As Dow Jones Futures was trading more than 100 points up therefore sentiment improved and firstly up moves were seen after positive opening which remained continued till 03:00 PM. Some selling also developed at higher levels therefore 99 points sharp fall was seen in last half hour,

Lower levels supports and higher levels selling also today therefore today trading will be understood with Mixed Patterns formation between 17775-18084. Nifty will firstly trade and prepare for next decisive intraday moves within today trading range and finally sustaining it beyond will confirm it which should be firstly watched tomorrow for next intraday decisive moves beginning confirmations.

Firstly watch levels after Corona 

Panic led crash beginning

Technical Analysis,Research & Weekly Outlook

(Dec 26 to Dec 30,2022)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (23-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- Impulsive Wave-i of Wave-iii of Wave-1 completion at 17428.8 on 06-10-2022.

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

6- Impulsive Wave-iii of Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

7- Corrective Wave-iv of Wave-iii of Wave-1 continuation with recent bottom formation at 17779.50 on 23-12-2022

8- Corrective Wave-iv of Wave-iii of Wave-1 slipped and closed below Rising Trend Line on 23-12-2022 

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started from 15183.4 on 17-06-2022 and in continuation with recent top formation at 18887.6 on 01-12-2022. Its impulsive Wave-iii of Wave-iii of Wave-1 completed at 18887.6 on 01-12-2022 and its corrective Wave-iv begun which is in continuation with recent bottom formation at 17779.50 on 23-12-2022 as well as no indication of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (23-Dec-2022):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-iii of Wave-iii of Wave-1 completion at 18887.6 on 01-12-2022.

2- Corrective Wave-iv of Wave-iii of Wave-1 continuation with recent bottom formation at 17779.50 on 23-12-2022

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

4- Stochastic:- %K(5)- 8.62 & %D(3)- 18.69.

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

6- MACD(26,12)- -151.87 & EXP(9)- 4.73 & Divergence- -156.6

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 in Over sold zone. Althouugh Stochastic is completely Over sold but it has not generated any upward move beginning indication therefore let it happen first then fresh up moves will be considered.

2- In MACD its MACD line has intersected Average line downward and its both lines are falling therefore confirming Downward trend formation.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (23-Dec-2022):-

Technical Patterns and Formations in EOD charts

Averages:-

A- 5-Day SMA is today at 18187.8

B- 21-Day SMA is today at 18493.3(Short Term Trend decider)

C- 55-Day SMA is today at 18091.01(Intermediate Term Trend decider)

D- 100-Day SMA is today at 17839.0

E- 200-Day SMA is today at 17185.1(Long Term Trend decider)

 

Conclusions from EOD chart analysis

(Averages)

Nifty has closed below all the above Averages except 200-Day SMA last Friday after 01.77% down moves last Friday therefore Long Term Trend is still up. As Nifty has closed below Intermediate Term Trend decider 55-Day SMA therefore firstly sustaining it beyond should be watched in the coming week/weeks for final confirmation of Intermediate Term Trend formations. It shoild be kept in mind that confirmation of sustaining below 55-Day SMA will mean 3 Weeks to 3 months long weaker markets and deeper correction beginning possibility as well.   

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term Trend is at stake and finally sustaining beyond 55-Day SMA will confirm it.

3- Short Term Trend is down.

Corrective Wave-iv of Wave-iii of Wave-1 continuation with recent bottom formation at 17779.50 and no indication of its completion yet on EOD charts. As Nifty has moved below both 55 & 100-Day SMA therefore high risk of Intermediate Term Trend turning down which will confirm more down moves with longer term on on going correction.

Although MACD has shown strong indications of Downward trend formations but Stochastic is completely Over sold and a Pull Back rally may be seen toward following next resistances after getting supports within or near about following next supports/levels.

Watch following Crucial levels;-

1- Sustaining beyond 55-Day SMA(today at 18091.01)for Intermediate Term Trend confirmations.

2- 16747.7 for validity confirmations of on going Wave-iii of Wave-1. 

3- Long Term Trend decider 200-Day SMA(today at 17185.1) which is just above bottom of on going Wave-iii of Wave-1. 

Next supports up to the bottom of Wave-iii of Wave-1 are as follow:-

1- 17724-17765 

2- 17655-17712

3- 17477-17591

4- 17381-17401(Gap support)

5- 17226-17374

6- 17106-17219

7- 16941-17029

8- 16760-16855

Next resistances up to the top of Wave-iii of Wave-1 are as follow:-

1- 17867-17877

2- 17898-17956

3- 17993-18029

4- 18131-18180 

5- 18172-18258

6- 18345-18387

7- 18559-18586

8- 18674-18696

9- 18832-18854

As Corona panic and due to it economic issues surrounded all around therefore panic developed in all the Global markets and resultant most Global markets including Indian markets crashed in last 3 sessions of previous week. Let some clarity comes first then will be decided accordingly and till then just watch above mentioned levels/supports/resistances for all the Short to Long Term Trends formation confirmations which will be according to sustaining beyond its above mentioned deciding levels.

Correction towards next supports

 amid crashing Global markets

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-12-2022)

Nifty-Intra Day Chart (22-Dec-2022):-

Technical Patterns formation in today intraday charts

1- 147 Points sharp fall in first 25 minutes after positive opening

2- Selling between 18172-18258

3- More than 5 hours sideways trading between 18069-18180 with more than 100 points another fall 

4- Whole day actual trading between 18069-18318

Conclusions from intra day

chart analysis 

Minimum target of Nifty at 18154.2 was updated in following line on 17-12-2022 in "Firstly watch sustaining beyond 55-Day SMA for life and length of on going correction amid crashing Global markets":-

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

As was told 100% same happened and Nifty slipped 

below 18154.2 to 18068.6  as well as 

closed below it at 18127.35 today.

As storng global cues today morning and resultant firstly 118 up moves after positive opening but good intraday selling yesterday therefore not sustaining at higher and 147 points sharp fall developed in first 25 minutes and after that again more than 100 points down moves were also seen today. 

Last more than 5 hours sideways trading between 18069-18180 with lower levels supports and higher levels selling also seen within this range therefore firstly sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Intraday technical positions and according to that trading policy has been updated above but US markets are trading more than 2% down at this moment and all the European markets have also closed in Red with some of them closed more tahn 1% down. As sentiment has turned extremely depressed therefore sustaining below today lowest(18069) or forcefully its broken down will mean deeper correction beginning towards following next supports which should be watched one by one amid crashing Global markets:-

1- 17970-18012 

2- 17938-17964

3- 17724-17765 

4- 17655-17712

Firstly watch 18163-18280 amid 

more down moves expectations

 below today lowest

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-12-2022)

Nifty-Intra Day Chart (21-Dec-2022):-

Technical Patterns formation in today intraday charts

1- 88 Points up in first 10 minutes after gap up opening

2- Down moves with upward corrections

3- Volatility in last 2 hours between 18163-18280

4- Whole day actual trading between 18163-18473

Conclusions from intra day chart analysis 

Although firstly 88 Points up moves in first 10 minutes after gap up opening but not sustaining at higher levels and selling developed as well as down moves were seen with upward corrections.As good intraday selling therefore Nifty crashed 310 points from intraday higher levels. 

More than 100 points volatility was also seeen in last 2 hours between 18163-18280 therefore sustaining it beyond should be firstly watched in the coming session for first signal of next intraday decisive moves beginning amid more down moves expectations below today lowest because higher levels good intraday selling today.

Up moves towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(21-12-2022)

Nifty-Intra Day Chart (20-Dec-2022):-

Technical Patterns formation in today intraday charts

1- 206 Points down moves in first 25 minutes after weaker opening

2- More than 4 hours consolidation between 18203-18290

3- 135 Points sharp up moves in last one and half hour

4- Whole day actual trading between 18203-18404

Conclusions from intra day chart analysis 

Although firstly 206 points down moves in first 25 minutes after weaker opening but lower levels more than 4 hours good consolidation between 18203-18290 therefore after that 135 points sharp up moves in last one and half hour and today and today closing was near the higher levels of the day.

As only consolidation and intraday selling patterns

 were not seen today therefore firstly up moves are

 expected towards next resistances(18509-18586)

 and finally sustaining it beyond will confirm

 another intraday decisive move.