Intermediate Term Trend is Down &

 Watch Levels after Israel attacked Iran

 on 26-10-2024

Technical Analysis,Research & Weekly 

Outlook(Oct 28 to Oct 31,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (25-Oct-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 completion with new life time top formations at 26277.30 on 27-09-2024.

9- Intermediate Term correction continuation with recent bottom formations at 24073.90 on 25-10-2024.

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 this level Impulsive Wave-1 of new Waves structure started which 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 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B begun from this level. 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 started from this level. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and Short Term correction started which is now in continuation with its recent bottom formations at 24073.90 on 25-10-2024 and no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (25-Oct-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 09.92 & %D(3)- 10.86.

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

4- MACD(26,12)- -508.20 & EXP(9)- -437.85 & Divergence- -70.35

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both %K(5) and %D(3) lines are kissing in Over sold zone therefore it will be understood that at present there is no signal of any Upward move beginning. Let its clear Upward intersection happen then Short Term Upward moves 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 has confirmed that Short Term Trend is down. Although Intermediate Trem Trend is also down but both lines of MACD are narrowing closer therefore if its MACD line intersects Average line upward in the coming week/weeks then Short Term Upward moves will be seen after Short Term Upward Trend formations. 

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (25-Oct-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24453 

2- 21-Day SMA is today at 25050

3- 55-Day SMA is today at 25045

4- 100-Day SMA is today at 24591

5- 200-Day SMA is today at 23380

Conclusions from EOD chart analysis

(Averages) 

As Nifty has sustained below Intermediate Term Trend decider 55-Day SMA and also has closed well below 100-Day SMA also last Friday therefore has confirmed that Intermediate Term Trend has turned Downward and Nifty will remain in Downward mode minimum from 3 weeks to 3 Months. In this situation testing possibility of Long Term Trend decider 200-Day SMA can not be ruled out in the coming Months which is now well below. Firstly let it happen then will be decided next Long Term Trend according to finally sustaining beyond its decider 200-Day SMA.   

Nifty-EOD Chart Analysis

(Bollinger Band)

Nifty-EOD Chart (25-Oct-2024):-

Technical Patterns and Formations in EOD charts

1- Nifty tested Lower Band on 25-10-2024.

Conclusions from EOD chartanalysis

(Bollinger Band)

As all the 3 lines of Bollinger Band are moving downward therefore it is confirming Downward Trend formations but Nifty has tested its Lower Band also on 25-10-2024 and shown first signal of some upward moves beginning toward its Middle Band. As Nifty may remin in testing mode of Lower Band little more longer period also therefore let Upward moves begins firstly then sustaining beyond Middle Band will be watched for fresh Downward/Upward moves beginning according to Nifty sustaining beyond Middle Band.   

Nifty-EOD Chart Analysis

(Fibonacci retracement levels)

Nifty-EOD Chart (25-Oct-2024):-

Technical Patterns and Formations in EOD charts

Fibonacci Retracement levels of 

Wave-(iii) of Wave-3(18837.80-26277.30) 

13.0%- 25,310 (Corrected)

23.6%- 24,521 (Corrected)

27.0%- 24,268 (Corrected)

38.2%- 23,435 (Crucial Level)

50.0%- 22,557 (Crucial Level)

61.8%- 21,679 (Crucial Level)

70.7%- 21,017

76.4%- 20,593

78.6%- 20,429

88.6%- 19,686

Conclusions from EOD chart analysis

(Fibonacci retracement levels)

As Intermediate Term Trend turning down confirmations therefore Nifty will correct on going Wave-(iii) of Wave-3(18837.80-26277.30) according to above mentioned Fibonacci Retracement levels which should be watched one by one for next Short Term moves beginning.

Nifty has corrected 27.0% and next 38.2% crucial retracement level is at 23,435 which should be firstly watched in the coming week/weeks for the life and length of on going Intermediate Term correction.

Nifty-Intra Day Chart Analysis

(25-Oct-2024)

Nifty-Intra Day Chart (25-Oct-2024):-

Technical Patterns formation in today intraday charts

1- 322 Points down from intraday higher levels in first 2 hours

2- More than 3 hours consolidation between 24074-24158

3- 149 Points recovery from lower levels in last hour

4- Whole day actual trading between 24074-24440

Conclusions from intra day chart analysis 

Although firstly some upward moves in first 15 minutes after positive opening but immediately after that down moves begun which remained continued in the next 2 hours and Nifty lost 322 points from intraday higher levels. As in the next more than 3 hours consolidation developed therefore 149 Points recovery was seen from lower levels in last hour.

As lower levels good intraday consolidation last Friday and Pull Back Rally is also expected in the beginning of next week but sentiment is completely depressed due to Middle East war escalation possibility hence firstly sustaining beyond 24074-24158 should also be watched in the beginning of next week for next Short Term bigger moves beginning confirmations.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is down.

3- Short Term Trend is down.

Impulsive Wave-(iii) of Wave-3 completed at  26277.30 on 27-09-2024 and from this level Intermediate Term correction begun which is in continuation with its recent bottom formations at 24073.90 on 25-10-2024 and no indication of its completion yet on EOD and intraday charts.

As Short Term indicators Bollinger Band,MACD and Stochastic are suggesting that Short Term upward moves beginning signals may be generated therefore it should also be watched in the coming week for Short Term upward moves beginning with Short Term upward Trend formations. As intraday charts of last Friday are also showing Pull Back Rally beginning possibility if sustains above 24158 then Short Term upward moves will be seen towards following next resistances which should be watched one by one for next decisive moves beginning;-

1- 24537-24604

2- 24627-24684

3- 24787-24886

Averages are confirming that Intermediate Term Trend has turned down and Long Term Trend will be down after sustaining below its decider 200-Day SMA which is today at 23380. As next 38.2% crucial retracement level is at 23,435 and it is little above 200-Day SMA(23380) therefore if Nifty sustains below these 2 levels then deeper correction beginning will be seen after Long Term Trend turning down confirmations.

As Israel has attacked Iran on 26-10-2024 and risk of Middle-East war escalation has also increased therefore possibility of more downward moves can not be ruled out in next week and firstly sustaining beyond following supports should be watched one by one for next for next decisive moves beginning confirmations:- 

 

1- 24074-24158

2- 23977-24094   

3- 23671-23734

4- 23563-23612

5- 23502-23537

6- 23358-23476

Israeli defence minister statement 

led crashing financial markets

Post-open Outlook(25-10-2024)

As Middle-East war escalation fear developed after Israeli defence minister following statement and all the financial markets will remain closed in the coming 2 days also therefore fresh selling in beging seen in precious Metals and Indian Stock Markets. As crashing like downward moves are being seen therefore following supports should be watched one by one for next decisive moves beginning confirmations:-

1- 24205-24272

2- 24117-24179

3- 23977-24094  

Israeli defence minister: After we strike Iran, world will understand our preparations

Link of above news:- 

https://www.deccanherald.com/world/israeli-defence-minister-after-we-strike-iran-world-will-understand-our-preparations-3245539

 Strong Pull Back Rally will be seen

Nifty-Intra Day Chart Analysis & Market 

Outlook(25-10-2024)

Nifty-Intra Day Chart (24-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour after negative opening between 24342-24481

2- Down moves in Bullish Falling Channel

3- Consolidation between 24370-24418

4- Whole day actual trading between 24342-24481

Conclusions from intra day chart analysis 

Although volatility in first hour after negative opening but after that firstly down moves were seen in Bullish Falling Channel which is a consolidation pattern also. As more than 4 hours consolidation also developed in Mid-Session and last hours therefore it will be understood that only intraday consolidation patterns formations today and resultant strong Pull Back Rally will be seen tomorrow.

 Watch next supports below today lowest

Nifty-Intra Day Chart Analysis & 

Market Outlook(24-10-2024)

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

Technical Patterns formation in today intraday charts

1- Volatility in first half hour after weaker opening between 24379-24506

2- Selling in Mid-sesion .between 24537-24604

4- Sharp fall

4- Support in last hour between 24379-24455

5- Whole day actual trading between 24379-24604

Conclusions from intra day chart analysis 

Although volatility in first half hour after weaker opening between 24379-24506 but higher levels good intraday selling was also seen in Mid-session therefore sharp fall developed. As lower levels some supports in last hour also therefore firstly sustaining beyond this range should be watched for next intraday decisive moves beginning confirmations tomorrow. As higher levels good selling today therefore if Nifty sustains below today lowest then following next supports below today lowest should be watched for next intraday decisive moves beginning confirmations:-

1- 24205-24272

2- 24117-24179

3- 23977-24094

As out of station therefore unable 

to post tomorrow(22-10-2024) and 

next 1/2 sessions Outlook. 

Firstly watch levels for next 

Trend beginning confirmations

Technical Analysis,Research & Weekly 

Outlook(Oct 21 to Oct 25,2024)5

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (18-Oct-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 completion with new life time top formations at 26277.30 on 27-09-2024.

9- Short Term correction continuation with recent bottom formations at 24567.65 on 18-10-2024.

Conclusions from EOD 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. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 started which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 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 from this level. 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. 

Impulsive Wave-(iii) of Wave-3 is completed with new life time top formations at 26277.30 on 27-09-2024 and Short Term correction started which is in continuation with its recent bottom formations at 24567.65 on 18-10-2024 as well as no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (18-Oct-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 23.16 & %D(3)- 31.16.

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

4- MACD(26,12)- -408.46 & EXP(9)- -238.37 & Divergence- -170.09

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 towards Over sold zone therefore it will be understood that on going short Term Correction will remain continued in the beginning of next week also.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in negative zone therefore confirmations of Downward Trend formations and on going Short Term correction continuation 

Nifty-EOD Chart Analysis (Averages)

Nifty-EOD Chart (18-Oct-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24952

2- 21-Day SMA is today at 25375

3- 55-Day SMA is today at 25042

4- 100-Day SMA is today at 24507

5- 200-Day SMA is today at 23310

 

Conclusions from EOD chart analysis (Averages)

Short Term Trend is confirm down and strong indications of Intermediate Term Trend turning downward after Nifty closing below its decider 55-Day SMA for the last 3 sessions. As Nifty is well above Long Term Trend decider 200-Day SMA therefore it is confirm up and Until Nifty will not sustain below 200-Day SMA till then no risk of its turning downward. It should also be kept in mind that Intermediate Term Trend turning downward confirmation will mean minimum 3 weeks to 3 months long correction and in that situation Long Term Trend decider 200-Day SMA should also be firstly watch for the life and lenght of on going correction.

Nifty-Intra Day Chart Analysis

(18-Oct-2024)

Nifty-Intra Day Chart (18-Oct-2024):-

Technical Patterns formation in today intraday charts

1- 97 Points down moves in first 15 minutes after 84 points gap down opening

2- More than 3 hours up moves with downward corrections

3- Sideways trading in the last more than 2 hours between 24839-24886

4- Whole day actual trading between 24568-24886

Conclusions from intra day chart analysis 

Although firstly 97 Points down moves in first 15 minutes after 84 points gap down opening but after that more than 3 hours up moves with downward corrections were also seen which is a consolidation pattern. As sideways trading also developed in the last more than 2 hours between 24839-24886 therefore firstly sustaining beyond this range should be watched in the beginning of next week for next intraday decisive moves beginning confirmations and until complete intraday selling patterns will not develop on intraday charts till then Nifty will not sustain below last Friday lowest(24568).

Conclusions (After putting

all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is down.

Correction which begun from 26277.30 on 27-09-2024 after impulsive Wave-(iii) of Wave-3 completion is now in continuation with recent bottom formations at 24567.65 on 18-10-2024 and no indication of its completion yet on EOD and intraday charts. 

As Intermediate Term trend is at stake therefore firstly is turning downward or maintaining upward Trend should be watched in the coming weeks/weeks for next bigger moves beginning confirmations because that will confirm:-

1- Sustaining below its decider 55-Day SMA(today at 25042) will confirm deeper corretion beginning for the period of next 3 weeks to 3 months.

2- Sustaining above 55-Day SMA will confirm fresh rally beginning after on going Short Term correction completion.

Short Term indicators are showing clear signals of Short Term correction continuation. Intraday charts of last Friday are showing lower levels consolidation but Sideways trading was seen in the last more than 2 hours between 24839-24886 therefore firstly sustaining it beyond should also be watched in the coming sessions for the confirmations of next Short Term moves beginning.

"Bearish Head and Shoulders pattern formations with its Neckline at 24753" was posted in previous Weekly Outlook. Although Nifty slipped below its Neckline in previous sessions but closed above it both sessions therefore firstly sustaining beyond Neckline(24753) should be watched and once sustaining below it will mean deeper correction beginning confirmations. 

Finally concluded that firstly following levels should be watched for next Trend beginning confirmations in the coming week/weeks:- 

1- 24839-24886(Last more than 2 hours trading between 24839-24886 on 17-10-2024)

2- 24753(Neckline)

As out of station therefore unable 

to post tomorrow(16-10-2024) and 

next 1/2 sessions Outlook. 

Watch sustaining beyond 25223 amid firstly upward moves expectations

Nifty-Intra Day Chart Analysis &

MarketOutlook(15-10-2024)

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

Technical Patterns formation in today intraday charts

1- Consolidation in first half hour between 25027-25058

2- Sharp up

3- More than 5 hours consolidation between 25080-25159

4- Whole day actual trading between 25018-25159

Conclusions from intra day chart analysis 

As firstly consolidation in first half hour after positive opening therefore sharp up moves were seen after that. More than 5 hours consolidation also in all the last hours hence whole day only consolidation patterns formations will be understood therefore more upward moves will be seen towards 25223 and sustaining it beyond should also be watched in the coming sessions because:-  

1- Sustaining above 25223 will confirm fresh strong rally begining towards life time top after Short Term correction completion,

2- Sustaining below 25223 will confirm fresh downward moves beginning towards the bottom(24694.30) of on going correction.

Sustaining beyond 2 levels will confirm

 next bigger downward moves 

beginning or not

Technical Analysis,Research & Weekly Outlook

(Oct 14 to Oct 18,2024)

Nifty-Weekly Chart Analysis

(Waves Structure,Stochastic & MACD)

Nifty-Weekly Chart (11-Oct-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 26277.30 on 27-09-2024.

7- Short Term correction continuation with recent bottom formations at 24694.30 on 07-10-2024.

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

9- Stochastic:- %K(5)- 42.58 & %D(3)- 68.60.

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

11- MACD(26,12)- 994.34 & EXP(9)- 1123.65 & Divergence- -129.31

Conclusions from Weekly chart analysis

(Waves structure,Stochastic & MACD)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from this level impulsive Wave-1 of new Waves structure started. Impulsive Wave-1 completed at 18887.60 on 02-12-2022 and from this level Wave-2 begun 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 started which completed at 18837.80 on 27-10-2023 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 26277.30 on 27-09-2024. Although no confirmation of its completion yet on Weekly charts but Short Term correction begun from this level which is in continuation with recent bottom formations at 24694.30 on 07-10-2024 and no confirmation of its completion also on Weekly charts. 

Technical positions of Intermediate 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 strong signals of Intermediate Term beginning has been generated and will be seen in the coming weeek/weeks.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore strong indications of on going correction continuation after Intermediate Term Trend turning down confirmations.

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (11-Oct-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 26277.30 on 27-09-2024.

3- Wave-(iii) of Wave-3 has gained 7439.5 points(39.49%) in the last almost 1 year.

4- Short Term correction continuation with recent bottom formations at 24694.30 on 07-10-2024.

5- Wave-(iii) of Wave-3 has corrected 1583 points in the last 10 sessions.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-(iii) of Wave-3 which started from 18837.80 is now in continuation with its recent high and new life time top formations at 26277.30 after gaining 7439.5 points and no confirmation of its completion yet on EOD charts. As now Short Term correction continuation with recent bottom formations at 24694.30 after loosing 1583 points and no indication of its completion also therefore:- 

1- Firstly On going correction completion confirmations is required for any decisive upward move beginning confirmations.

2- Once sustaining below on going correction bottom(24694.30) will mean deeper correction beginning confirmations. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (11-Oct-2024):-

Technical Patterns and Formations in EOD charts

1- Bearish Head and Shoulders pattern formations with its Neckline at 24753

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

3- Stochastic:- %K(5)- 39.63 & %D(3)- 30.87.

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

5- MACD(26,12)- -233.19 & EXP(9)- 188.63 & Divergence- -421.82

Conclusions from EOD chart analysis

(Stochastic & MACD)

Bearish Head and Shoulders pattern has been developed on EOD charts and its Neckline is at 24753. Although Nifty slipped below its Neckline but closed above it at 24765.8 on 07-10-2024 after intraday bottom formations below it at 24694.30. As Nifty traded just above its Neckline in the last 4 sessions of previous week between 24757-25234 therefore firstly sustaining beyond this range should be watched in the coming week for next decisive bigger moves beginning confirmations.      

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 sold zone therefore it will be understood that at present this indicator is showing more downward moves in the coming week.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive and negative zone therefore it will be understood that this indicator is showing more downward moves in the coming week after Short Term Trend turning downward confirmations.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (11-Oct-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24951

2- 21-Day SMA is today at 25478

3- 55-Day SMA is today at 25026

4- 100-Day SMA is today at 24400

5- 200-Day SMA is today at 23226

Conclusions from EOD chart analysis

(Averages)

Although Long Term Trend is confirm up after Nifty trading well above its decider 200-Day SMA but Short Term Trend is confirm down and Intermediate Term Trend is at stake because Nifty is hovering around its decider 55-Day SMA for the last 6 sessions and closed below it also 4 times. As finally sustaining beyond 55-Day SMA will confirm next Intermediate Term trend formations and resultant next one sided bigger moves beginning therefore firstly it should be watched in the coming week/weeks. 

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is down.

Short Term Correction which begun after new life time top formations at 26277.30 on 27-09-2024 is now in continuation with recent bottom formations at 24694.30 on 07-10-2024 and no indication of its completion yet on EOD Charts.

As Bearish Head and Shoulders pattern formations and Intermediate/Short Term indicators are also showing signals of on going correction continuation possibility therefore bigger downward moves can not be ruled out in the coming week and firstly sustaining beyond following levels should be watched in the coming week for its confirmations:- 

1- Intermediate Term Trend 55-Day SMA which is today at 25026 and it will confirm from next 3 weeks to 3 months long one sided moves.

2- Bearish Head and Shoulders pattern Neckline at 24753.

Downward moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-10-2024)

Nifty-Intra Day Chart (10-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Sharp Upward moves

3- Sharp Downward moves

4- Selling between 25013-25051

5- Whole day actual trading between 24980-25134

Conclusions from intra day chart analysis 

Although positive opening but firstly Down moves were seen in Bullish Falling Channel therefore sharp upward moves were seen after that. As good intraday selling was seen between 25100-25234 yesterday also therefore Nifty could not sustain at higher levels within this range and sharp downward moves were also seen immediately. 

As more than 3 hours fresh selling also developed between 25013-25051 in Mid-Session today and good selling was seen above 25100 yesterday also therefore downward moves below today lowest(24980) and towards 24757 is expected tomorrow.

Firstly some upward moves possibility 

& finally 24757-25234 will confirm

 next bigger moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-10-2024)

Nifty-Intra Day Chart (09-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- Selling between 25198-25234

3- Selling between 25122-25157

4- Selling between 25100-25139

5- 192 Points down moves in last 2 hours

6- Some up moves after lower levels minor supports

7- Whole day actual trading between 24948-25234

Conclusions from intra day chart analysis 

Although firstly upward moves with downward corrections and Nifty traded 220 points positive also but higher levels selling developed and 2 times follow up selling was also seen after some down moves in mid-session therefore 192 Points downward moves were seen in last 2 hours and Nifty closed near the lower levels of the day. As some up moves after lower levels minor supports in last half hour and good intraday consolidation was seen below today lowest and above 24757 yesterday also therefore firstly some upward moves can not be ruled out tomorrow. 

Immediate resistances are lying between 25100-25234 therefore until Nifty will not sustain above 25234 after complete intraday consolidation till then decisive upward moves will not seen. In the same manner complete fresh selling is also required for sustaining below 24757 because good intraday consolidation was seen above it yesterday also. As both consolidation and selling has been seen in last 2 sessions between 24757-25234 therefore Nifty will trade within this range in the coming sessions and prepare for next bigger moves as well as finally sustaining beyond this range will confirm it hence it should also be finally watched in the coming sessions for next bigger moves beginning confirmations.

Watch 25125 amid more upward 

moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-10-2024)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 24757-25045

Conclusions from intra day chart analysis 

Although firstly some down moves after positive opening but after that whole day up moves were with downward corrections which is a consolidation pattern therefore more upward moves are expected towards neat resistances(25056-25124). As last hours upward moves were due to Haryana BJP victory led heated sentiments and some profit booking also can not be ruled out therefore firstly some consolidation is also required near about today highest and once sustaining above 25124 will mean strong rally beginning therefore it should also be watched in the coming sessions.

As out of station therefore unable 

to post tomorrow(08-10-2024) Outlook. 

Watch next supports,resistances & 

55-Day SMA for next next Trend 

formations & bigger moves beginning confirmations amid Middle-East war

 led Geo-Global uncertainty

Technical Analysis,Research & Weekly 

Outlook(Oct 07 to Oct 11,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (04-Oct-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 26277.30 on 27-09-2024.

9- Short Term correction continuation with recent bottom formations at  24966.80 on 04-10-2024.

Conclusions from EOD 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. 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 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 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 from this level. 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 26277.30 on 27-09-2024. Although no confirmation of Wave-(iii) of Wave-3 completion yet on EOD charts but Short Term correction begun in previous week which is now in continuation with its recent bottom formations at 24966.80 on 04-10-2024 and no signal of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (04-Oct-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 05.42 & %D(3)- 13.74.

3- In MACD- Its both MACD line and Average line are kissing in positive zone.

4- MACD(26,12)- 339.00 & EXP(9)- 367.27 & Divergence- -28.27

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 in Over sold zone therefore it will be understood that at present this indicator is showing first signal of on going on Short Term correction completion but not confirmations therefore let its both lines to move above Over sold zone after upward intersection then Short Term Upward moves will be seen. 

2- As in MACD indicator its both MACD and Average lines are kissing in positive zone therefore it will be understood that at present this indicator is not confirming on going Upward Trend completion and cautioning only. Let any side clear intersection happen then that side bigger decisive moves will begin after that side Short Term Trend formation confirmations

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (04-Oct-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 25611  

2- 21-Day SMA is today at 25485

3- 55-Day SMA is today at 24990

4- 100-Day SMA is today at 24270

5- 200-Day SMA is today at 23136

Conclusions from EOD chart analysis

(Averages)

As Nifty is now well above Long Term Trend decider 200-Day SMA therefore Long Term Trend is confirm up but Short Term Trend is confirm down because Nifty closed well below its decider 21-Day SMA last Friday. Although Intermediate Term trend is still up but at stake because Nifty closed little above its decider 55-Day SMA after slipping below it last Friday and firstly sustaining beyond 55-Day SMA(today at 24990) should be watched in the coming week/weeks for that side next Intermediate Term trend formations and resultant that side one sided bigger moves beginning confirmations.

Nifty-Intra Day Chart Analysis

(04-Oct-2024)

Nifty-Intra Day Chart (04-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- High volatility in Mid-Session

3- Down moves in Bullish Falling Channels in the last more than 2 hours

4- Whole day actual trading between 24967-25485

Conclusions from intra day chart analysis 

Although Nifty traded 150 points down in first 16 minutes after gap down opening but after that upward moves started with downward corrections which is a consolidation pattern therefore finally sharp up moves were seen and Nifty traded 235 points also. As higher levels good intraday selling was seen in previous sessions therefore Nifty could not sustain at higher levels and fallen sharply also as well as lost 394 points in only 31 minutes and in this manner high volatility was seen in Mid-Session.

As last more than 2 hours down moves were in Bullish Falling Channels which is also a consolidation pattern and consolidation pattern was seen in first 2 hours also therefore lower levels good intraday consolidation will be understood last Friday and firstly upward moves are expected towards last Friday highest in the beginning of next week.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is down.

Although now impulsive Wave-(iii) of Wave-3 is in continuation and no confirmation of its completion yet on EOD charts but Short Term correction forcefully begun in which Nifty corrected 1041 points in last 4 sessions of previous week. Now correction is in continuation no confirmation of its completion also on EOD and intraday charts.

Remain cautious in the coming week/weeks because Geo Political tension is high after Iran attack on Israel in previous week therefore Indian markets and other Global markets and if war escalate in Middle-East then deeper correction will be seen.

Now Short Term indicator MACD is not confirming any side decisive moves beginning possibility but another indicator Stochastic is completely Oversold and suggesting that Very Short Term upward moves may begun after its %K(5) line upward intersection of %D(3) line and its both lines to move above Oversold zone.

As Nifty hovered around Intermediate Term trend decider 55-Day SMA(today at 24990) in last hour of previous trading day therefore firstly sustaining it beyond should be watched in the coming week because its also turning down will mean minimum 3 weeks to 3 months long correction.

Intraday charts of last Friday are showing lower levels consolidation patterns therefore upward moves are expected towards following next resistances:-

1- 25421-25468

2- 25592-25626

3- 25640-25739

4- 25787-25828(Gap Resistance)

5- 25886-25912

6- 25969-25606

7- 26135-26151(Gap Resistance)

Next supports below last Friday lowest are as follows:-

1- 24894-24927

2- 24816-24872

3- 24655-24709

4- 24533-24574

5- 24475-24497

6- 24394-24446

7- 24205-24272

8- 24117-24179

9- 23977-24094

10- 23932-24027

Although firstly upward moves signals in the beginning of next week but finally watch sustaining beyond above mentioned next supports,resistances and Intermediate Term trend decider 55-Day SMA(today at 24990) one by one amid Middle-East war led Geo-Global uncertainty for next Trend formations and bigger moves beginning confirmations.

Firstly watch sustaining beyond 

25231-25294 for next intraday decisive

 moves beginning confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-10-2024)

Nifty-Intra Day Chart (03-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Some up moves after gap down opening

2- Sharp downward moves

3- Sideways trading in last 2 hours between 25231-25294

4- Whole day actual trading between 25231-25639

Conclusions from intra day chart analysis 

As Iran attacked on Israel therefore huge Geo Political uncertainty with war escalation developed hence negative sentiments led sharp downward moves were seen in Indian markets after gap down opening. As sideways trading in last 2 hours between 25231-25294 therefore firstly sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Firstly watch 25740-25837 amid 

Middle-East war acceleration risk

Nifty-Intra Day Chart Analysis & 

Market Outlook(03-10-2024)

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

Technical Patterns formation in today intraday charts

1- Firstly 118 points up in first 5 minutes after little gap down weaker opening

2- 168 Points down in next 2 hours

3- More than 4 hours sideways trading with lower levels consolidation patterns between 25740-25837

4- Whole day actual trading between 25740-25907

Conclusions from intra day chart analysis 

Although firstly 118 points up in first 5 minutes after little gap down weaker opening but not sustaining at higher levels and 168 points down moves were also seen in the next 2 hours therefore first 2 hours trading will be understood with high volatility. 

As more than 4 hours sideways trading was with lower levels consolidation patterns between 25740-25837 therefore firstly sustaining beyond this range should be watched tomorrow for next decisive moves beginning confirmations. As Middle-East war acceleration risk has also emerged after Iran Missile attack on Israel therefore remain cautious because in that situation deeper correction may also be seen towards following next supports which should be watched one by one for next intraday/Very short Term moves beginning confirmations;-

1- 25650-25704

2- 25554-25586

3- 25377-25466

4- 25324-25373

5- 24942-25062(Strong Supports)

6- 24894-24927

7- 24816-24872

Firstly watch sustaining beyond

 25795-25819 for next intraday

 decisive moves

 beginning confirmations

Nifty-Intra Day Chart Analysis

(01-Oct-2024)

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

Technical Patterns formation in today intraday charts

1- More than 5 hours down moves after 90 points gap down weaker opening

2- Supports in last hour between 25795-25819

3- Whole day actual trading between 25795-26134

Conclusions from intra day chart analysis 

Following lines were told on 29-09-2024 in "Firstly watch next supports & even Short Term correction will be after complete selling patterns formations on intraday & EOD charts":-

1- firstly downward moves are expected below last Friday lowest in the beginning on next week.

2- Intraday charts of last Friday are showing signals of firstly downward moves possibility in the beginning of next week which may be also therefore following next supports below last Friday lowest should be watched one by one for the confirmations of expected Short Term correction continuation/completion:-

1- 26084-26106

2- 26061-26073

3- 26013-26047

4- 25854-25948

As was told on 29-09-2024,all that 

100% same happened today and Nifty 

closed 368 points down today.

As whole day intraday selling was seen last Friday therefore firstly 90 points gap down weaker opening today and after that more than 5 hours selling was also seen today therefore Nifty closed 368 points down today. Some supports were also seen between 25795-25819 in last hour today therefore firstly sustaining it beyond should be watched tomorrow for next intraday decisive moves beginning confirmations.

Firstly watch next supports & even

 Short Term correction will be after

 complete selling patterns formations

 on intraday & EOD charts

Technical Analysis,Research & Weekly 

Outlook(Sep 30 to Oct 04,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (27-Sep-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 26277.30 on 27-09-2024. 

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 begun. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 started which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B started from this level. 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 forcefully with its recent high and new life time top formations at 26277.30 on 27-09-2024 and no signal of its completion yet on EOD charts.

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (27-Sep-2024):-

Technical Patterns and Formations in Weekly charts

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

2- Stochastic:- %K(5)- 94.46 & %D(3)- 88.69.

3- In MACD- Both lines are kissing in positive zone.

4- MACD(26,12)- 1120.54 & EXP(9)- 1145.20 & Divergence- -24.66

Conclusions from Weekly chart analysis

(Stochastic & MACD)

Technical positions of Intermediate 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 in Over bought zone therefore it will be understood that at present this indicator is suggesting on going upward moves continuation possibility and  not showing clear signals of Intermediate Term correction beginning but remain cautious and watchful because its both lines are in Over bought zone for the last 3 weeks.    

2- As in MACD indicator its both MACD line and Average lines are kissing in positive zone therefore it will be understood that at present this indicator is cautioning only and not confirming on going Upward Trend completion. Let any side clear intersection happen then that side next Intermediate Term Trend formations will get confirmations and resultant that side decisive bigger moves beginning will be seen.  

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (27-Sep-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)- 89.51 & %D(3)- 92.60.

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

4- MACD(26,12)- 412.43 & EXP(9)- 260.50 & Divergence- 151.93

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 signals of any side next Short Terms decisive  moves beginning. Let firstly downward intersection happen and its both lines to move below Over bought zone then Short term correction beginning will be considered.

2- As in MACD indicator its both MACD line and Average lines are kissing in positive zone therefore it will be understood that at present this indicator is not confirming any side moves beginning. Let any side clear intersection happen then that side Short Term decisive moves will be seen after that side Short Term Trend formations.

Nifty-Intra Day Chart Analysis

(27-Sep-2024)

Nifty-Intra Day Chart (27-Sep-2024):-

Technical Patterns formation in today intraday charts

1- Up moves after positive opening

2- Selling between 26258-26277

3- Down moves

4- Selling between 26234-26248

5- Down moves

6- Selling between 26191-26231

7- Whole day actual trading between 26152-26277

Conclusions from intra day chart analysis 

Although firstly some up moves after positive opening but higher levels selling developed therefore downward move were seen after that. As follow up selling in Mid-Session and more selling in last hours also therefore firstly downward moves are expected below last Friday lowest in the beginning on next 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.

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 begun. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 started which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation with its recent high and new life time top formations last Friday at 26277.30 and no indication of its completion yet on EOD and intraday charts. 

Although Weekly indicator MACD is not showing clear signals of any side next Intermediate Term Trend formations but Weekly Stochastic is showing signals on going upward moves continuation possibility therefore at it will be understood that at present Intermediate Term Upward Trend is in continuation and let clear Bearish signals develop on Weekly indicators then Intermediate Term Trend reversal will be considered.

As Daily indicator MACD is suggesting on going upward trend continuation possibility in Short Term therefore finally on going Upward moves may remain continued after Short Term correction completion which may be seen also because Daily indicator Stochastic is showing signals Short Term correction beginning possibility.

Intraday charts of last Friday are showing signals of firstly downward moves possibility in the beginning of next week which may be also therefore following next supports below last Friday lowest should be watched one by one for the confirmations of expected Short Term correction continuation/completion:-

1- 26084-26106

2- 26061-26073

3- 26013-26047

4- 25854-25948

Although firstly watch above next supports but it also should be kept in mind that until complete selling patterns will not form on intraday and EOD charts till then even Short Term correction will not be seen.