Down moves below last 

2 sessions lowest

Nifty-Intra Day Chart Analysis &

Market Outlook(29-08-2024)

Nifty-Intra Day Chart (28-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Down moves after positive opening

2- Consolidation between 24971-25033

3- Sharp up

4- Selling between 25084-25129

5- Down moves in last hour

6- Whole day actual trading between 24965-25129

Conclusions from intra day chart analysis 

Although positive opening today morning but firstly down moves were seen and Nifty traded 52 points down also below 25000 because intraday selling was seen between 25039-25070 yesterday. As lower levels consolidation developed in first 2 hours therefore sharp up moves were seen after that but more than 3 hours higher levels selling was also seen therefore down moves developed in last hour. 

As intraday charts of today are showing both lower levels consolidation and higher levels selling also therefore whole day today trading will be understood with mixed Patterns formation between 24971-25129 hence expected that Nifty will firstly trade and prepare for next decisive moves beginning within and near about this range. Although positive opening today but higher levels more intraday selling was seen today and higher levels selling developed yesterday also therefore expected that down moves will be seen and finally Nifty will slip below last 2 sessions lowest(24965) in the coming sessions.

As out of station therefore unable 

to post today(28-08-2024) Outlook. 

Sustaining beyond 24968-25029 will

 confirm next bigger moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(27-08-2024)

Nifty-Intra Day Chart (26-Aug-2024):-

Technical Patterns formation in today intraday charts

1- 154 Points sharp up in first half hour after gap up opening

2- More than 4 hours sideways trading between 24968-25029

3- Whole day actual trading between 24875-25043

Conclusions from intra day chart analysis 

As strong Global cues today morning therefore firstly 154 points sharp up moves in first half hour after gap up opening. More than 4 hours sideways trading between 24968-25029:-

1- in which some selling patterns were also seen 

2- therefore expected that Nifty will firstly trading and prepare fopr next decisive moves within this range and finally sustaining beyond this range will confirm next bigger moves beginning 

3- hence firstly sustaining beyond 24968-25029 should be watched in the coming sessions for next bigger moves beginning confirmations.

Sustaining beyond 24655-24858 will confirm next bigger moves beginning

Technical Analysis,Research & Weekly 

Outlook(Aug 26 to Aug 30,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (23-Aug-2024):-

Technical Patterns and Formations in EOD charts

 

1- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

2- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

3- Short Term correction completion at 23893.70 on 05-08-2024.

4- Pull Back rally continuation with recent top formations at 24867.30 on 22-08-2024  

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of Wave-(ii) of Wave-3 completed at 18837.80 on 26-10-2023 and from this level Impulsive Wave-(iii) of Wave-3 begun which is in continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 as well as no confirmation of its completion yet on EOD xharts. Short Term correction begun on 02-08-2024 which completed at 23893.70 on 05-08-2024 and Pull Back rally started from this level which is in continuation with recent top formations at 24867.30 on 22-08-2024 and no confirmation of its completion also.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (23-Aug-2024):-

Technical Patterns and Formations in EOD charts

1- Stochastic- Its both lines %K(5) and %D(3) are kissing in Over bought zone.

2- Stochastic:- %K(5)- 92.05 & %D(3)- 93.24.

3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive and negative zones.

4- MACD(26,12)- 09.70 & EXP(9)- 141.97 & Divergence- -132.27

Conclusions from EOD chart

analysis (Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing in Over bought zone therefore it will be understood that at present this indicator is not showing any side decisive moves beginning signals. Let downward intersection happen then Short term correcion will be considered.

2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive and negative zones therefore it will be understood that this indicator is showing signals of Short Term upward trend formations. Let its both lines to move into Positive zone then more decisive upward moves will be seen.

Nifty-Last 4 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Aug 20 to Aug 23,2024):-

Technical Patterns formation in last 4 Sessions intraday charts

1- More than 10 hours trading with Mixed patterns formations between 24655-24749 on 20-08-2024 and 21-08-2024

2- More than 10 hours trading with Mixed patterns formations between 24791-24858 on 22-08-2024 and 23-08-2024

3- Last 4 Sessions actual trading between 24608-24867

Conclusions from 4 Sessions

intra day chart analysis 

It is clear that Nifty has traded with Mixed patterns formations between 24655-24858 in last 4 sessions of previous week which means that one sided intraday trading patterns were not seen therefore expected that Nifty will firstly trade and prepare for next one sided decisive moves within and near about Mixed patterns formation strading range(24655-24858) of last 4 sessions. As finally sustaining beyond this trading range will confirm next one sided bigger moves beginning therefore it should be firstly watched in the coming week for its confirmations.

Nifty-Intra Day Chart Analysis

(23-Aug-2024)

Nifty-Intra Day Chart (23-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour between 24772-24847

2- More than 4 hours trading with Mixed Patterns formation between 24818-24858

3- Whole day actual trading between 24772-24858

Conclusions from intra day

chart analysis 

Although volatility in first hour after positive opening last Friday but Nifty slipped in negative zone during this volatility and once traded 39 points down also before those up moves beginning in which Nifty traded 48 points up also. As more than last 4 hours trading with Mixed Patterns formation between 24818-24858 and it means that both consolidation and selling patterns developed within this tradding range therefore it will be understood that one sided intraday trading patterns could not develop hence expected that Nifty will firstly traded and prepare for next decisive moves within and near about this trading range in the beginning of coming week.

Conclusions (After putting

all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is up.

Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no confirmation of its completion yet on EOD charts. As now Pull Back rally is very much on with its recent top formations at 24867.30 on 22-08-2024 and its recent top is little below life time top therefore firstly moves beyond life time top should be watched in the coming week because that will confirm next bigger moves beginning. 

As Short Term indicators are not showing any side clear Short Terrm Trend formations and most time intraday trading patterns of last 4 sessions are also not showing one sided clear intraday trading patterns formations between 24655-24858 therefore firstly sustaining beyond this trading range should be watched in the coming week for next one sided bigger moves beginning confirmations. Supports and resistances beyond 24655-24858 are as follows which should be watched one by one for next Short term moves beginning confirmations:- 

Resistances above 24858 are as follows:-

1- 24932-24954 

2- 24974-25026

3- 25038-25067

Supports below 24655 are as follows:-

1- 24533-24574

2- 24475-24497

3- 24394-24446

4- 24205-24272

5- 24117-24179

6- 23977-24094

7- 23932-24027

Sustaining below 24791 will mean 

more than 1% correction

Nifty-Intra Day Chart Analysis &

Market Outlook(23-08-2024)

Nifty-Intra Day Chart (22-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Whole day sideways trading with selling patterns indications between 24791-24847

2- Whole day actual trading between 24785-24867

Conclusions from intra day chart analysis 

As whole day sideways trading with selling patterns indications between 24791-24847 today and intraday selling patterns were seen in previous 2 sessions also therefore once sustaining below 24791 will mean more than 1% correction.

Sustaining beyond 24655-24749 will 

confirm next bigger moves beginning

Nifty-Intra Day Chart Analysis & Market

Outlook(22-08-2024)

Nifty-Intra Day Chart (21-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 24655-24749

2- Up moves in last half hour

3- Whole day actual trading between 24655-24787

Conclusions from intra day chart analysis 

As more than 5 hours selling patterns formation were seen between 24704-24734 yesterday therefore 

1- Very Short Term correction were expected and 

2- 49 points down moves were seen also today also but 

3- more than 5 hours trading was seen within and near about this range(24704-24734) between 24655-24749 was seen today.  

As more than 10 hours trading between 24655-24749 in last 2 sessions therefore sustaining beyond this range should be watched in the coming sessions for next bigger moves beginning confirmations.

Finally Very Short Term correction 

expectations below today lowest

Nifty-Intra Day Chart Analysis & Market

Outlook(21-08-2024)

Nifty-Intra Day Chart (20-Aug-2024):-

Technical Patterns formation in today intraday charts

1- 126 Points up moves after positive opening

2- More than 4 hours selling patterns formation between 24704-24734

3- Whole day actual trading between 24608-24734

Conclusions from intra day chart analysis 

Although firstly 126 points up moves after positive opening but after that more than 4 hours selling patterns formation were also seen between 24704-24734 therefore finally Very Short Term correction is expected below today lowest(24608) in the coming sessions.

24544-24601 will confirm next 

bigger decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(20-08-2024)

Nifty-Intra Day Chart (19-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections after 95 points positive opening

2- Last 4 hours sideways trading between 24544-24601

3- Whole day actual trading between 24523-24638

Conclusions from intra day chart analysis 

Although 95 points positive opening but Down moves begun with upward corrections which is a selling pattern also therefore Nifty lost all intraday gains and once Nifty traded in negative zone. As after these down moves Nifty traded last 4 hours sideways between 24544-24601 therefore firstly sustaining beyond this range should be watched tomorrow for next bigger decisivr moves brginning confermations.

Firstly upward moves but finally correction continuation towards next supports

Technical Analysis,Research & Weekly Outlook

(Aug 19 to Aug 23,2024)

Nifty-Weekly Chart Analysis

(Waves structure)

Nifty-Weekly Chart (16-Aug-2024):-

Technical Patterns and Formations in Weekly charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 02-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 24-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023. 

5- Corrective Wave-(ii) of Wave-3 completion at 18837.80 on 27-10-2023

6- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

7- Short Term correction continuation with recent bottom formations at 23893.70 on 05-08-2024. 

8- Pull Back rally continuation with recent top formations at 24563.90 on 16-08-2024 

Conclusions from Weekly chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started from 15183.40 on 17-06-2022 after Corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-1 completed at 18887.60 on 02-12-2022 and from this level Wave-2 started which completed at 16828.30 on 24-03-2023 and Impulsive Wave-3 started from this level. 

Impulsive Wave-(i) of Wave-3 completed at 20222.45 on 15-09-2023 and from this level corrective Wave-(ii) of Wave-3 begun which completed at 18837.80 on 27-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. Although now Impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no confirmation of its completion yet on Weekly charts also but Short Term correction started on 02-08-2024 which is in continuation with recent bottom formations at 23893.70. Pull Back rally begun on 06-08-2024 which is also in continuation with recent top formations at 24563.90 on 16-08-2024 and no confirmation of its completion also. 

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (16-Aug-2024):-

Technical Patterns and Formations in Weekly charts

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

2- Stochastic:- %K(5)- 53.81 & %D(3)- 67.78.

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

4- MACD(26,12)- 1155.52 & EXP(9)- 845.74 & Divergence- 309.78

Conclusions from Weekly chart analysis

(Stochastic & MACD)

Technical positions of Intermediate Term indicators are as follows:-

1- As in Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that signals of Intermediate Term correction has begun and its continuation will be exp[ected in the coming week/weeks.

2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone also therefore it will be understood that MACD is confirming upward Trend formation and on going upward moves continuation possibility also.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (16-Aug-2024):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

2- Short Term correction continuation with recent bottom formations at 23893.70 on 05-08-2024. 

3- Pull Back rally continuation with recent top formations at 24563.90 on 16-08-2024 

4- Stochastic- Its both lines %K(5) and %D(3) are kissing in the middle zone.

5- Stochastic:- %K(5)- 42.16 & %D(3)- 45.99.

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

7- MACD(26,12)- -279.77 & EXP(9)- -45.47 & Divergence- -234.3

Conclusions from EOD chart analysis

(Stochastic & MACD)

Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no confirmation of its completion yet on EOD charts also but Short Term correction begun from this levels which is in continuation with recent bottom formations at 23893.70 on 05-08-2024 and no confirmation of its completion also on EOD charts. Pull Back rally started from this levels which is also in continuation with recent top formations at 24563.90 on 16-08-2024 and no confirmation of its completion also on EOD charts. Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing in the middle zone therefore it will be understood that at present this indicator is not showing clear signals of any side immediate Short Term decisive moves. Let it show any side clear intersection then that seide Short Term noves will be seen.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in negative zone therefore it will be understood that this indicator is showing clear signals of Short Term downward trend formations.

Nifty-Intra Day Chart Analysis

(16-Aug-2024)

Nifty-Intra Day Chart (16-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour after gap up and 190 points positive opening

2- 190 points fall from intraday higher levels in first 75 minutes

3- Down moves in Bullish Falling Channel

4- One hour consolidation between 24205-24272

5- 4 Hours up moves with downward corrections

6- Whole day actual trading between 24205-24563

Conclusions from intra day chart analysis 

Although volatility in first hour after gap up and 190 points positive opening and after that 190 points fall was also seen from intraday higher levels in first 75 minutes but some down moves were in Bullish Falling Channel and lower levels One hour consolidation also developed therefore up moves started which remained continued till last half hour. As these 4 hours Up moves were with downward corrections which is also a consolidation pattern therefore last Friday started up moves will remain continued in the beginning of next week also.

Conclusions (After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is up.

impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 and no confirmation of its completion yet on Weekly and EOD charts but Short Term correction started on  02-08-2024 and in continuation with recent bottom formations at 23893.70 on 05-08-2024 and no confirmation of its completion also. Now Pull Back rally continuation and no indication of its completion also on Weekly,EOD and Intraday charts therefore more up moves are expected towards next resistances in the beginning of coming week.

Although Intermediate Term MACD is suggesting upward Trend formations but both Intermediate Term Stochastic and Short Term MACD are showing Downward trend formations therefore expected that Nifty will not be able to sustain above higher levels resistance and finally downward moves will be seen towards following next supports:-

Resistances above last Friday closing are as follows:-

1- 24563-24686(Gap resistance)

2- 24791-24824

3- 24932-24954 

4- 24974-25026

5- 25038-25067

Supports below last Friday closing are as follows:-

1- 24475-24497

2- 24394-24446

3- 24205-24272

4- 24117-24179

5- 23977-24094

6- 23932-24027

Sustaining beyond 24100-24196 will confirm next one sided decisive big moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-08-2024)

Nifty-Intra Day Chart (14-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Whole day sideways trading between 24100-24196

2- Whole day actual trading between 24100-24196

Conclusions from intra day chart analysis 

Following lines were told at 02:32 AM on 14-08-2024 in "Firstly up moves & finally today supports range will confirm next decisive moves beginning.":-

firstly up moves are expected towards today selling range(24306-24355) and finally sustaining beyond today supports(24117-24179) range will confirm next decisive moves beginning.

As was told 100% same happened and firstly up moves were seen thorough 45 points positive opening and Nifty traded whole day sideways between 24100-24196 which was within and near about yesterday supports range(24117-24179). It is clear that Nifty has traded almost 8 hours between last Wednesday trading range(24100-24196) and prepared for next one sided decisive big moves within this range therefore firstly sustaining it beyond should be watched in the coming sessions for its confirmations.

Firstly up moves & finally today supports range will confirm next decisive moves beginning.

Nifty-Intra Day Chart Analysis &

Market Outlook(14-08-2024)

Nifty-Intra Day Chart (13-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24306-24355

2- More than 200 points continuous down moves 

3- Support between 24117-24179

4- Whole day trading between 24117-24359

Conclusions from intra day chart analysis 

As almost 3 hours selling after flat opening and higher levels intraday selling was seen one day before also therefore downward moves begun which remeined continued more than 2 hours as well as Nifty slipped more than 200 points also. Although Nifty closed 0.85% down but lower levels supports were also seen in last hour therefore firstly up moves are expected towards today selling range(24306-24355) and finally sustaining beyond today supports(24117-24179) range will confirm next decisive moves beginning.

As busy therefore could not update 

today(13-08-2024) Outlook. 

Watch 3 levels one by one for next trend formations and bigger moves beginning confirmations

Technical Analysis,Research & 

Weekly Outlook(Aug 12 to Aug 16,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (09-Aug-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023 and Wave-A of "ABC" correction beginning.

5- Wave-A of Wave-(ii) of Wave-3 completion at 19333.60 on 04-10-2023.

6- Wave-B of Wave-(ii) of Wave-3 completion at 19849.80 on 17-10-2023.  

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

8- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

9- Short Term correction continuation with recent bottom formations at 23893.70 on 05-08-2024. 

Conclusions from EOD chart

analysis(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from his level Impulsive Wave-1 of new Waves structure started. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 begun which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 started from this level. 

Impulsive Wave-(i) of Wave-3 completed at 20222.45 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 started which completed at 19333.60 on 04-10-2023 and Wave-B begun. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Now Impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no confirmation of its completion yet on EOD charts but Short Term correction begun from this level which is also in continuation with its recent bottom formations at 23893.70 on 05-08-2024 and no confirmation of its completion yet also on EOD Charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (09-Aug-2024):-

Technical Patterns and Formations in EOD charts

1- Stochastic-%K(5) line has intersected %D(3) line upward and its both lines are rising from Over sold bought zone

2- Stochastic:- %K(5)- 21.91 & %D(3)- 16.86.

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

4- MACD(26,12)- 27.72 & EXP(9)- 160.18 & Divergence- -132.46

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line upward and its both lines are rising  from Over sold bought zone therefore it will be understood that signals of fresh upward moves towards Over bought zone have been generated.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that this indicator is showing signals of Short Term downward trend formations.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (09-Aug-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24166

2- 21-Day SMA is today at 24533

3- 55-Day SMA is today at 23869

4- 100-Day SMA is today at 23173

5- 200-Day SMA is today at 22121

Conclusions from EOD chart analysis

(Averages)

Although Nifty whole day traded and closed above 5-Day SMA last Friday but Nifty traded and closed below Short Term trend decider 21-Day SMA in all the sessions of previous week therefore it is confirm that Short Term trend has turned down. As Nifty has not even tested Intermediate Term trend decider 55-Day SMA and well above Long Term trend decider 200-Day SMA therefore it will be understood that Intermediate and Long Term trends are confirm up.

As next Upward trend will be decided through sustaining above Short Term trend decider 21-Day SMA(today at 24533) or Downward trend through sustaining below Intermediate Term trend decider 55-Day SMA(today at 23869) therefore sustaining beyond these 2 SMAs should be watched in the coming weeks for next Trend formations and resultant next bigger moves beginning confirmations.

Nifty-Last 5 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Aug 05 to Aug 09,2024):-

Technical Patterns formation in last 5 Sessions intraday charts

1- Selling(Resistances) in last 5 Sessions are as follows:-

A- 24283-24379 

B- 24173-24266  

2- Consolidation(Supports) in last 5 Sessions are as follows:-

A- 24185-24269 

B- 24136-24251 

C- 24080-24192

D- 23977-24094

E- 23932-24027

3- More than 4 hours trading with mixed Patterns formation between 24323-24387 on 09-08-2012

4- Last 5 Sessions of previous week actual between 23894-24419 

Conclusions from 5 Sessions intraday

chart analysis 

Nifty opened 384 points gap down at 24302.80 in the beginning of previous week ie on 05-08-2012 and after that whole week traded  between 23894-24419 with above mentioned technical positions formations. Although minor intraday selling was seen at higher levels but lower levels good intraday consolidation also developed therefore Nifty closed at the top of previous week. 

 

As more than 4 hours trading with mixed Patterns formation between 24323-24387 last Friday ie on 09-08-2012 therefore firstly sustaining beyond this range should be watched in the beginning of next week for first signal of that side decisive moves beginning.

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 impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no confirmation of its completion yet on EOD charts but Short Term correction started on  02-08-2024 and in continuation with recent bottom formations at 23893.70 on 05-08-2024 and no confirmation of its completion also. 

As Short Term indicator Stochastic is showing signals of upward moves beginning therefore some more up moves may be seen in the coming week but MACD is confirming Downward trend formations also therefore finally downward moves possibility can not be ruled out after initial upward moves.

Although Short Term Trend(its decider 21-Day SMA is today at 24533) is Down and Intermediate Term trend(its decider 55-Day SMA is today at 23869) is up but Nifty traded in last 5 sessions of previous week within these 2 trends between 23894-24419. As finally sustaining beyond 23869-24533 will confirm next trend therefore finally sustaining beyond these 2 trends should be watched in the coming week/weeks for next trend formation confirmations.

As intraday charts of last 5 sessions are also showing all consolidation , selling and mixed patterns formations between 23894-24419 therefore following 3 levels should be watched one by one in the coming week/weeks for next trend formations and bigger moves beginning confirmations:-

1- 24323-24387(More than 4 hours trading range with mixed Patterns formations on 09-08-2012)

2- 23894-24419(Last 5 Sessions trading range)

3- 23869-24533(Next Trend confirmations)

Upward moves expectations 

above last 2 sessions highest

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-08-2024)

Nifty-Intra Day Chart (08-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 24136-24251

2- Volatility in Mid-session between 24195-24340

3- Consolidation between 24080-24192

4- Whole day actual trading between 24080-24340

Conclusions from intra day chart analysis 

Although upward moves were expected after consolidation above yesterday highest but Nifty could not sustain above yesterday highest after once moving above it and closed in Red today. As lower levels good intraday conoslidation today also therefore again expected that upward moves will be seen above last 2 sessions highest(24340.50).

Upward moves above today highest

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-08-2024)

Nifty-Intra Day Chart (07-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 24185-24269

2- Whole day actual trading between 24185-24337

Conclusions from intra day chart analysis 

Although higher levels selling but consolidation was also seen in last 3 hours through Down moves in Bullish Falling Channel yesterday therefore 296 points positive opening today. As lower levels consolidation between 24185-24269 today therefore upward moves are expected above today highest(24337) in the coming sessions.

Finally 2 immediate resistances will confirm next Very Short Term moves amid firstly upward  moves expectations

Nifty-Intra Day Chart Analysis & Market

Outlook(07-08-2024)

Nifty-Intra Day Chart (06-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24283-24379(Immediate Resistances)

2- Downward moves

3- Selling between 24173-24266(Immediate Resistances)

4- Down moves in Bullish Falling Channel in last 3 hours

5- Whole day actual trading between 23961-24382

Conclusions from intra day chart analysis 

Although 134 points positive opening but selling developed therefore downward moves were seen after one hour. As follow up selling in Mid-Session therefore again down moves developed but were in Bullish Falling Channel in last 3 hours which means consolidation pattern formations during this time therefore firstly upward moves are expected towards above mentioned immediate resistances of Nifty. Finally sustaining beyond these 2 immediate resistances should be watched in the coming sessions for next Very Short Term moves beginning confirmations.

As out of station therefore unable 

to post today(28-08-2024) Outlook. 

Firstly watch next supports for the

 life and length of expected correction

Technical Analysis,Research & Weekly 

Outlook(Aug 05 to Aug 09,2024)

Nifty-Weekly Chart Analysis

(Waves structure)

Nifty-Weekly Chart (02-Aug-2024):-

Technical Patterns and Formations in Weekly charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 02-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 24-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023. 

5- Corrective Wave-(ii) of Wave-3 completion at 18837.80 on 27-10-2023

6- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

7- Correction beginning with closing near weekly lowest and recent bottom formations at 24686.85 on 02-08-2024. 

Conclusions from Weekly chart

analysis(Waves structure)

Impulsive Wave-1 of new Waves structure begun from 15183.40 on 17-06-2022 after Corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-1 completed at 18887.60 on 02-12-2022 and from this level Wave-2 started which completed at 16828.30 on 24-03-2023 and Impulsive Wave-3 begun from this level. 

Impulsive Wave-(i) of Wave-3 completed at 20222.45 on 15-09-2023 and from this level corrective Wave-(ii) of Wave-3 begun which completed at 18837.80 on 27-10-2023 and impulsive Wave-(iii) of Wave-3 started from this level. Although now Impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no indication of its completion yet on Weekly charts also but correction started in previous week and Nifty closed near weekly lowest last Friday therefore firstly completion of previos week started correction should be watched for next up moves beginning confirmations.

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (02-Aug-2024):-

Technical Patterns and Formations in Weekly charts

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

2- Stochastic:- %K(5)- 81.17 & %D(3)- 87.03.

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

4- MACD(26,12)- 1096.21 & EXP(9)- 671.60 & Divergence- 424.61

Conclusions from Weekly chart

analysis (Stochastic & MACD)

Technical positions of Intermediate Term indicators are as follows:-

1- As in Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling in Over bought zone therefore it will be understood that signals of Intermediate Term correction beginning have been generated and its continuation can not be ruled out in the coming week.

2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone  therefore it will be understood that MACD is confirming upward Trend formation but remain cautious also because gap between its both lines has been widened which is an indication of downward moves beginning possibility also.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (02-Aug-2024):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024.

2- Short Term correction continuation with recent bottom formations at 24686.85 on 02-08-2024. 

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

4- Stochastic:- %K(5)- 63.87 & %D(3)- 79.49.

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

6- MACD(26,12)- 197.05 & EXP(9)- 249.16 & Divergence- -52.11

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that signals of Short Term correction beginning have been generated and that may be seen in the coming week also.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that this indicator is showing signals of Short Term downward trend formations and more downward moves possibility also can not be ruled out in next week.

Nifty-Intra Day Chart Analysis

(02-Aug-2024)

Nifty-Intra Day Chart (02-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Sharp fall after 167 points gap down opening

2- Selling between 24791-24824

3- Downward moves in last hours

4- Whole day actual trading between 24687-24851

Conclusions from intra day chart analysis 

As firstly sharp fall after 167 points gap down opening and after that selling in Mid-session also therefore intraday correction remained continued till last hours and Nifty closed near the lower levels of the day last Friday. Only intraday selling patterns formations and consolidation patterns were not seen therefore firstly downward moves towards next supports will be seen in the beginning of coming week.

Conclusions (After putting

all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is UP.

Although now Impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25078.30 on 01-08-2024 and no indication of its completion yet on Weekly charts and EOD charts but Short Term Correction begun in previous week and Nifty closed near weekly lowest last Friday. 

As Intermediate and Short Term indicators are showing Short Term correction possibility and last Friday intrday charts are also showing selling patterns formations therefore downward moves are expected towards following next supports one by one in the coming week/weeks for the life and length of expected correction:-

1- 24629-24655

2- 24580-24605

3- 24367-24426

4- 24308-24367

5- 24142-24307

6- 24095-24140

7- 23914-23997 

8- 23671-23734

9- 23563-23612

10- 23502-23537

11- 23358-23476

Next resistances above last Friday closing are as follows. Sustaining above one by one should be watched one by one for fresh rally beginning possibility after on foing corerection completion:-

1- 24791-24824

2- 24932-24954 

3- 24974-25026

4- 25038-25067

Finally 24922-24971 will confirm

 next bigger moves amid firstly

 down moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-08-2024)

Nifty-Intra Day Chart (01-Aug-2024):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections

2- Selling between 24974-25026

3- Whole day actual trading between 24957-25078

Conclusions from intra day chart analysis 

Although firstly up moves after gap up strong opening above 25,000 but intraday selling patterns were seen in previous sessions also therefore not sustaining at higher levels and down moves begun which remined continued more than 5 hours. As these down moves were with upward corrections which is a selling pattern and selling was seen between 24974-25026 also therefore down moves are expected towards day's lowest(24957). Finally sustaining beyond 24922-24971 should be watched for next bigger moves beginning confirmations because Nifty has traded more than 7 hours in previos 2 sessions.

 FOMC announcements led next one sided decisive moves beginning confirmations through 2 trading ranges

Nifty-Intra Day Charts Analysis & Market Outlook(01-08-2024)

Nifty-Last 3 Sessions intraday charts analysis

Nifty-Intra Day Chart (Jul 29 to Jul 31,2024):-

Technical Patterns formation in last 3 Sessions intraday charts

1- More than 3 hours trading between 24774-24891 on 29-07-2024 and 30-07-2024. 

2- More than 7 hours trading between 24922-24971 on 30-07-2024 and 31-07-2024.

3- Last 3 Sessions actual trading between 24774-24999

Conclusions from 3 Sessions

intra day chart analysis 

Although huge volatility on 29-07-2024 but Nifty traded within this range in last 2 sessions and Nifty traded within above mentioned 2 ranges more than 3 hours and more than 7 hours. As Nifty has prepared for post FOMC announcements led new decisive moves therefore Indian and Asian markets will react on it tomorrow and:-

1- Firstly sustaining beyond these 2 trading ranges should be watched for Indian markets reaction on FOMC announcements.

and 

2- Next one sided decisive moves beginning confirmations.

Sustaining below 24774 will mean correction continuation towards next supports

Nifty-Intra Day Chart Analysis & Market 

Outlook(31-07-2024)

Nifty-Intra Day Chart (30-Jul-2024):-

Technical Patterns formation in today intraday charts

1- Minor volatility in first hour

2- Up moves

3- More than 3 hours selling between 24922-24971

4- Sharp fall in last hour

5- Whole day actual trading between 24799-24971

Conclusions from intra day chart analysis 

Although firstly up moves were seen after first hour volatility but higher levels more than 3 hours selling was seen therefore sharp fall developed in last hour because selling was seen one day before below this range between 24834-24891 and Nifty closed also within this range at 24857.30.  As selling patterns have been seen in last 2 sessions therefore down moves are expected towards last 2 sessions lowest(24774) and sustaining below it will mean Very Short Term correction continuation towards next supports between 24367-24426.