Watch next Supports amid firstly Short Term correction expectations

Technical Analysis,Research & Weekly Outlook

(Dec 09 to Dec 13,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (06-Dec-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- Corrective Wave-(iV) of Wave-3 recent bottom formations at 23263.20 on 21-11-2024.

10- Pull Back rally continuation with recent top formations at 24857.8 on 05-12-2024.

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 impulsive Wave-1 of new Waves structure begun from this level.  Impulsive Wave-1 completed at 18887.60 on 01-12-2022 and from this level corrective Wave-2 started 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 20222.4 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. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-(iV) of Wave-3 started and now stronger signals of its completion have emerged on EOD charts after its bottom formations at 23263.20 on 21-11-2024 because Pull Back rally which begun from its bottom is in continuation strongly with recent top formations at 24857.8 on 05-12-2024 after gaining 1594.6 points and no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (06-Dec-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)- 82.55 & %D(3)- 86.34.

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

4- MACD(26,12)- 260.70 & EXP(9)- -46.20 & Divergence- 306.9

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 this indicator has generated first and strong signal of Short Term correction beginning which will be seen in the coming week/weeks

2- As in MACD its MACD line has intersected Average line upward and its both lines are rising in positive and negative zone therefore it will be understood that MACD indicator has shown stronger signals of Upward Trend formations and resultant on resultant on going rally continuation.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (06-Dec-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24517 

2- 21-Day SMA is today at 24071

3- 55-Day SMA is today at 24652

4- 100-Day SMA is today at 24707

5- 200-Day SMA is today at 23719

Conclusions from EOD chart analysis

(Averages)

The rally which begun after getting supports at Long Term Trend decider 200-Day SMA at 23263.20 on 21-11-2024 is now in continuation and 2 times tested also Intermediate Term Trend decider 55-Day SMA in last 2 sessions of previous week. Short and Long Term Trends are already up and finally sustaining beyond 55-Day SMA will decide the fate of Intermediate Term Trend in following manner which is now at stake:-

1- Sustaining above 55-Day SMA will mean Strong rally beginning towards and/or above life time top because that will confirm on going Intermediate Term correction completion at 23263.20 on 21-11-2024.

2- Sustaining below 55-Day SMA will mean that Intermediate Term Trend is still down and resultant downward moves will be seen toward and/or below the bottom of on going Intermediate Term correction at 23263.20.   

Nifty-Intra Day Chart Analysis

(06-Dec-2024)

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

Technical Patterns formation in today intraday charts

1- RBI Monetary Policy led volatility

2- More than 4 hours sideways trading between 24658-24722 with more selling patterns formations signals

3- Whole day actual trading between 24621-24751

Conclusions from intra day chart analysis 

Although firstly RBI Monetary Policy led volatility but after that quiet market and More than 4 hours Sideways trading was seen within 64 points between 24658-24722. As more selling patterns formations in the last more than 4 hours sideways trading therefore higher possibility of firsly downward moves beginning towards and/or below last Friday lowest(24621) as well as finally sustaining it beyond will generate next decisive moves beginning in the coming 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 up.

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-(iii) of Wave-3 of this Waves structure completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-(iV) of Wave-3 begun as well as its completion signals have also been emerged after its recent bottom formations at 23263.20 on 21-11-2024 because the Rally which started from this levels is now in continuation strongly with recent top formations at 24857.8 on 05-12-2024 and no confirmation of its completion yet on EOD and intraday charts.

Although Short Term indicator MACD is showing stronger signals of on going upward moves continuation after Upward Trend formations but another Short Term indicator Stochastic is indicating that Short Term downward moves are on card which may also begun any day. Final conclusion from Short Term indicators is that firstly Short Term correction will be seen because intraday charts of last Friday are also showing some selling patterns formations. Let firstly expected Short Term correction complete then after that upward moves will be considered according to that time technical patterns formations.

Intermediate Term trend is at stake and finally sustaining beyond its decider 55-Day SMA(today at 24652) will confirm its next Trend(Up or Down) formations as well as generate those bigger moves which have already been explained above. As Short Term indicator Stochastic is Over bought and selling patterns fomations in last Friday intraday charts also therefore firstly Short Term correction will be seen in the coming week and sustaining beyond following next supports should be watched one by one for next decisive moves beginning confirmations:- 

1- 24565-24670

2- 24388-24439 

3- 24143-24222

4- 24079-24117

 Finally Levels will confirm next Trend after Reserve Bank of India MPC policy decisions led volatility

Nifty-Intra Day Chart Analysis &

Market Outlook(06-12-2024)

Nifty-Intra Day Chart (05-Dec-2024):-

Technical Patterns formation in today intraday charts

1- 233 Points fall in first 2 hours 

2- Consolidation between 24312-24384

3- Sharp up

4- Consolidation between 24565-24670

5- Sharp up

6- Selling between 244771-24857

7- Volatility in last hour between 24494-24752

8- Whole day actual trading between 24296-24857

Conclusions from intra day chart analysis 

As higher levels intraday selling was seen in previous sessions therefore firstly 233 Points fall was seen in first 2 hours and Nifty traded 71 points below the lowest(24367) of yesterday also but lower levels consolidation developed therefore sharp upward moves were seen after that. More than 2 hours follow up intraday consolidation was also seen in Mid- session therefore again sharp up moves developed after that but higher levels good selling was also seen therefore 323 points sharp fall in only 12 minutes and huge volatility in last hour between 24494-24752.

All these today upward moves and high last hour volatility was on the expectations of Reserve Bank of India led Monetary Policy Committee (MPC) bi-monthly policy decisions which will unveil tomorrow at 10:00 am and this volatility may be seen tomorrow also therefore firstly sustaining beyond today 2nd consolidation and selling range(24565-24857) should be watched tomorrow for next intraday decisive moves beginning confirmations. 

Downward moves expectations

below today lowest

Nifty-Intra Day Chart Analysis &

Market Outlook(05-12-2024)

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

Technical Patterns formation in today intraday charts

1- Selling between 24510-24573

2- Sharp fall

3- Selling between 24509-24539

4- Sharp fall

5- Whole day actual trading between 24367-24573

Conclusions from intra day chart analysis 

As higher levels intraday selling was seen yesterday and fresh selling developed  2 times today also therefore 2 times sharp fall was seen today and resultant firstly downward moves below today lowest(24367) are expected and after that sustaining it beyond should be watched for next decisive moves beginning confirmations.

Watch 24388 amid firstly downward

 moves expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(04-12-2024)

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

Technical Patterns formation in today intraday charts

1- Firstly 87 Points down moves in first 15 minutes after 91 points positive opening

2- Sharp upward moves

3- Consolidation between 24388-24439 in Mid-session

4- Selling Patterns formation in last 2 hours between 24453-24481

5- Whole day actual trading between 24281-24481

Conclusions from intra day chart analysis 

Although firstly 87 Points down moves in first 15 minutes after 91 points positive opening but after that sharp upward moves were seen and Nifty recovered all this loss and started to trade strongly because good intraday consolidation was also seen in Mid-session. As higher levels intraday selling Patterns formations also in last 2 hours therefore firstly downward moves are expected but just below it consolidation was also seen therefore until Nifty will sustain below 24388 after complete intraday selling patterns formation till then decisive downward moves will not be seen.

As out of station therefore unable 

to post today(03-12-2024) Outlook. 

Firstly immediate Supports & Resistances and Finally 3 Averages will show signals and finally confirmations

Technical Analysis,Research & Weekly Outlook

(Dec 02 to Dec 06,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (29-Nov-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-2 completion at 16828.30 on 20-03-2023 and impulsive Wave-3 beginning.

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

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

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

5- 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. 

6- Impulsive Wave-(iii) of Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 beginning.

7- Corrective Wave-4 continuation with recent bottom formations at 23263.20 on 21-11-2024.

8- Short Term upward moves continuation with recent top formations at 24354.5 on 27-11-2024.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-3 started from 16828.30 on 20-03-2023 after corrective Wave-2 completion at this levels. 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. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 started which is now in continuation with its recent bottom formations at 23263.20 on 21-11-2024 and no confirmation of its completion yet on EOD charts. Short Term upward moves begun from the lower levels(23263.20) of on going correction which are in continuation with recent top formations at 24354.5 on 27-11-2024 and no confirmation of its completion yet also on EOD and intraday charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (29-Nov-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 from Over bought zone.

2- Stochastic:- %K(5)- 67.34 & %D(3)- 78.05.

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

4- MACD(26,12)- -154.89 & EXP(9)- -324.64 & Divergence- 169.75

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 this indicator has generated first and strong signal of Short Term downward moves beginning which will be seen in the coming week/weeks.

2- As in MACD its MACD line has intersected Average line upward and its both lines are rising in negative zone therefore it will be understood that MACD indicator has generateed Short Term upward Trend formation with upward moves beginning and continuation signals which were seen in previous week also.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (29-Nov-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24147 

2- 21-Day SMA is today at 23998

3- 55-Day SMA is today at 24723

4- 100-Day SMA is today at 24700

5- 200-Day SMA is today at 23651

Conclusions from EOD chart analysis

(Averages)

As Nifty has sustained above Long Term Trend decider 200-Day SMA in previous week up moves therefore Long Term Trend is still up but Intermediate Term Trend is still down confirmly because Nifty is sustaining well below its decider 55-Day SMA for the last more than 6 weeks. Short Term Trend is at stake because Nifty has hovered around its decider 21-Day SMA in previous week.

 

Although Short Term Trend decider 21-Day SMA is now between Long Term Trend decider 200-Day SMA and Intermediate Term Trend decider 55-Day SMA but at stake therefore firstly its clear direction should be watched in the coming week/weeks because that will confirm all the Trends turning upward above 55-Day SMA or all the Trends turning downward below 200-Day SMA 

Nifty-Intra Day Chart Analysis

(29-Nov-2024)

Nifty-Intra Day Chart (29-Nov-2024):-

Technical Patterns formation in today intraday charts

1- Consolidation between 23928-24022

2- Sharp up

3- Last 5 hours upward moves with lower levels consolidation and higher levels selling patterns formations

4- Whole day actual trading between 23928-24188

Conclusions from intra day chart analysis 

As positive Global cues last Friday morning therefore firstly consolidation and after that sharp upward moves were seen but last 5 hours upward moves were with lower levels consolidation and higher levels selling patterns formations hence whole day last Friday trading will be understood with Mixed Patterns formation between 23928-24188 and firstly sustaining beyond this range should be watched in next week for next decisive 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 at stake.

Impulsive Wave-3 which started from 16828.30 completed with new life time top formations at 26277.30 and corrective Wave-4 begun which is now in continuation after recent bottom formations at 23263.20 and no confirmation of its completion yet on EOD charts. Short Term upward moves started which are in continuation with recent top formations at 24354.5 and no confirmation of its completion also on EOD and intraday charts.

As huge unexpected victory of BJP in Assembly Elections on 23-11-2024(Saturday) therefore previous week Short Term upward moves begun after 296 points gap up opening on 25-11-2024(Monday) but after that further decisive up moves were not seen in the following 4 sessions of previous week and Nifty traded sideways between 23874-24354 as well as 296 points gap of 25-11-2024 has also been filled up. As both intraday consolidation and selling patterns seen in last 5 sessions therefore expected that Nifty will firstly trade within last 5 sessions trading range in the coming week and will prepare for next trend within this range. Immediate supports and resistances of last 5 sessions are as follows:-

Immediate supports:-

1- 24079-24117

2- 24143-24222

Immediate resistances:-

1- 24286-24354

2- 24314-24345

Although Short Term indicator MACD is showing upward moves continuation signals but  Stochastic is indicating downward moves beginning. As most time Stochastic shows immediate moves beginning signals and MACD generate signals little later therefore firstly downward moves beginning can not be ruled out hence firstly watch above mentioned immediate supports/resistances and finally sustaining beyond 23874-24354 should be watched in the coming week/weeks for first stronger signal of next trend formations.   

As finally next bigger moves beginning will be seen after next Trend formations which will be decided through following 3 Averages therefore these should be watched one by one for next Trend formations and next bigger moves beginning confirmations:-

1- Firstly watch 21-Day SMA(today at 23998) for next Trend beginning first signal.

2- Finally sustaining above 55-Day SMA(today at 24723) will mean strong rally beginning after all Trends turning up.

3- Finally sustaining below 200-Day SMA(today at 23651) will mean deeper correction beginning after all Trends turning down.

Finally sustaining beyond 24126-25354 will generate bigger moves

Nifty-Intra Day Chart Analysis &

Market Outlook(28-11-2024)

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

Technical Patterns formation in today intraday charts

1- Consolidation between 24146-24222

2- Upward moves

3- Selling between 24286-24354

4- Whole day actual trading between 24146-24354

Conclusions from intra day chart analysis 

Following lines were told at 01:24 AM on 27-11-2024 in "Finally sustaining beyond 24126-25351 will confirm next intraday bigger decisive moves beginning":-

last 2 sessions intraday trading will be understood with Mixed Patterns formation between 24126-25351 and firstly sustaining beyond this range should be watched in the coming sessions for next intraday bigger decisive moves beginning confirmations.

Nifty traded most time within last 2 sessions trading range(24126-25351) between 24146-24354 today 

Although firstly downward moves after positive opening but lower levels good consolidation developed therefore upward moves were seen in Mid-Session and Nifty recovered more than 200 points also from lower levels. As higher levels selling was also seen in last 3 hours therefore whole day today trading also will be understood with Mixed Patterns formation between 24146-24354.

As last 2 sassions trading was with Mixed Patterns formation between 24126-25351 and today most time trading was also within this range between 24146-24354 therefore it is clear that last 3 sessions trading had been with Mixed Patterns formation between 24126-24354 and it will be understood that Nifty is preparing for next bigger moves between 24126-24354 which will be seen after sustaining beyond this last 3 sessions trading range.

 Finally sustaining beyond 24126-25351 will confirm next intraday bigger decisive moves beginning

Nifty-Intra Day Charts Analysis & 

Market Outlook(27-11-2024)

Nifty-Last 2 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Nov 25 & Nov 26,2024):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Intraday trading patterns formations on 25-11-2024:-

A- Selling between 24286-24351 after 296 points gap up opening 

B- Sharp fall in Mid-session

C- Up moves with downward corrections

2- Intraday trading patterns formations on 26-11-2024:-

A- 176 Ponts fall from higher levels in first hour and 15 minutes after 121 points positive opening

2- More than 2 hours consolidation between 24143-24194 in Mid-session

3- Last 2 Sessions actual trading between 24126-25351 

Conclusions from 2 Sessions 

intra day chart analysis 

As huge unexpected victory of BJP in Assembly Elections last Saturday therefore 296 points gap up opening was seen on 25-11-2024 but sentiment turned heated hence higher levels selling developed in the next more than 2 hours and Nifty could not sustain at higher levels as well as sharp fall was seen in Mid-session. Although Nifty lost more than 200 points from intrday higher levels but last more than 2 hours upward moves were with downward corrections which means that consolidation also developed at lower levels. As higher levels good intraday selling was seen one day before therefore firstly 176 Ponts fall was seen from higher levels in first hour and 15 minutes after 121 points positive opening on 26-11-2024. More than 2 hours consolidation was also seen at lower levels between 24143-24194 in Mid-session on 26-11-2024 therefore last 2 sessions intraday trading will be understood with Mixed Patterns formation between 24126-25351 and firstly sustaining beyond this range should be watched in the coming sessions for next intraday bigger decisive moves beginning confirmations.

Watch next resistances and levels amid firstly upward moves expectations

Technical Analysis,Research & Weekly 

Outlook(Nov 25 to Nov 29,2024)

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (22-Nov-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-  Corrective Wave-4 continuation with recent bottom formations at 23263.20 on 21-11-2024.

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 impulsive Wave-1 of new Waves structure started from this level.  Impulsive Wave-1 completed at 18887.60 on 01-12-2022 and from this level corrective 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 20222.4 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. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-4 started which is now in continuation with its recent bottom formations at 23263.20 on 21-11-2024 and no confirmation of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (22-Nov-2024):-

Technical Patterns and Formations in EOD charts

1- Stochastic- Its %K(5) line has intersected %D(3) line upward. Its %K(5) line is rising and  %D(3) line is moving flat in Over sold zone.

2- Stochastic:- %K(5)- 22.25 & %D(3)- 15.34.

3- In MACD- MACD line has intersected Average line upward and after this its both lines are kissing in negative zone.

4- MACD(26,12)- -309.96 & EXP(9)- -330.06 & Divergence- 20.10

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. Its %K(5) line is rising and  %D(3) line is moving flat in Over sold zone therefore it will be understood that this indicator has generated first and strong signal of Short Term upward moves beginning which will be seen in the coming week/weeks

2- As in MACD firstly its MACD line has intersected Average line upward and after this its both lines are kissing in negative zone therefore it will be understood that MACD indicator has started to generate Short Term upward Trend formation signals which will be seen if its both lines starts to move upward after MACD line clear upward intersection of Average line.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (22-Nov-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 23552  

2- 21-Day SMA is today at 24050

3- 55-Day SMA is today at 24803

4- 100-Day SMA is today at 24705

5- 200-Day SMA is today at 23593

Conclusions from EOD chart analysis

(Averages)

Short and Intermediate Term Trends are confirm down because Nifty has sustained below its deciders 21-Day SMA and 55-Day SMA for the last many weeks but Long Term Trend is at stake because Nifty hovered around its decider 200-Day SMA for the last 5 sessions in which Nifty closed below it in the last 4 sessions. 

Although Nifty opened at the lowest of on going corrective Wave-4 last friday but 2.39% strong intraday recovery was seen from lower levels and Nifty closed near the higher levels of the day. As such strong recovery therefore some more upward moves can not be ruled out in the coming week. As Nifty has closed well above 3-Day SMA last Friday therefore firstly sustaining beyond 21-Day SMA and 55-Day SMA should be watched in the coming week for the life and length of on going Wave-4 correction.

Nifty-Intra Day Chart Analysis

(22-Nov-2024)

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

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections.

2- Whole day actual trading between 23360-23956.

Conclusions from intra day chart analysis 

As whole day up moves with downward corrections after positive opening and it means that whole day only intraday consolidation patterns developed and intrday selling patterns were not seen last Friday therefore firstly upward moves will be seen in the beginning of next week.

Conclusions (After putting

all studies together)

1- Long Term Trend is at stake.

2- Intermediate Term trend is down.

3- Short Term Trend is down.

Corrective Wave-4 which begun after impulsive Wave-(iii) of Wave-3 completion at 26277.30 on 27-09-2024 is now in continuation with recent bottom formations at 23263.20 on 21-11-2024 and no confirmation of its completion yet on EOD charts.

As Short Term indicators are showing Short Term upward moves beginng signals and last Friday intraday charts are also suggesting that firstly upward moves will be seen in the beginning of next week therefore firstly following next resistances and levels should be watched one by one in the coming week for the life and length of expected upward moves:-

Resistances above last Friday closing are as follows:-

1- 23915-24034

2- 24091-24242

3- 24264-24315

4- 24537-24604

5- 24627-24684

6- 24787-24886

Levels:-

1- 21-Day SMA(today at 24050)

2- 55-Day SMA(today at 24803)

As no confirmation of on going corrective Wave-4 completion yet on EOD charts therefore if Nifty fails to sustain above mentioned resistances and levels and correction restarts then following next supports and Levels should be watched the the life and length of on going Wave-4 correction:-

Supports below last Friday closing are as follows:-

1- 23816-23853

2- 23654-23712

3- 23447-23545

4- 23298-23337

5- 23161-23206

6- 22961-23096

7- 22760-22871

8- 22291-22395

9- 21884-22191

10- 21502-21582

11- 21417-21500

Now corrective Wave-4 is correcting Wave-(iii) of Wave-3(18837.80-26277.30) and its Fibonacci Retracement levels as follows :- 

38.2%- 23,435 (Crucial Level)(Retraced)

50.0%- 22,557 (Crucial Level)

61.8%- 21,679 (Crucial Level)

Upward moves towards next

resistances tomorrow

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-11-2024)

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

Technical Patterns formation in today intraday charts

1- 243 Points sharp fall in first half hour after negative opening

2- Almost whole day sideways trading between 23298-23363

3- Whole day actual trading between 23264-23507

Conclusions from intra day chart analysis 

As sentiment was extremely depressed due to most negative like news from USA regarding Indian top industrialist "Gautam Adani and his Group of Companies" therefore firstly 243 points sharp fall was seen in first half hour after negative opening and after that almost whole day sideways trading was near the lower levels of the day between 23298-23363.

Whole day today trading was affected due to this most negative news therefore firstly sustaining beyond 23298-23363 should be watched tomorrow for next intraday decisive moves beginning confirmations because today trading was highly under the pressure of this news and in such situation final conclusion can not be drwan only from intraday charts patterns formations. 

As per our view this whole news was a part of "USA Deep State" conspiracy for demolishing Indian Industrial set up which is being continuously done against "Adani Group". Firstly Indian markets were crashed after "Hindenburg fake news" on 24-01-2023 and today from a "Court case and other bribary news". As all are understanding this time that all this a fake news Agenda of "USA Deep State" therefore Indian markets will move upward towards next resistances( 23694-23780) tomorrow

Finally sustaining beyond 23351-23780 will confirm next decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(21-11-2024)

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

Technical Patterns formation in today intraday charts

1- Upward moves after positive opening.

2- Selling between 23694-23780.

3- 245 Points sharp fall in last hour.

4- Whole day actual trading between 23465-23780

Conclusions from intra day

 chart analysis 

Live Proofs of our 100% accurate 

Nifty predictions & Analysis

Following lines were told at 02:31 AM on 19-11-2024 in "Upward moves expectations above today highest":-

upward moves are expected above today highest(23606).

As was told 100% same happened and:- 

1- Strong upward moves were seen till 11:50 AM once Nifty traded 326 points up.

2- Today hioghest was at 23780 which was much above yesterday highest(23606).

Although firstly upward moves were seen after positive opening and once Nifty traded 326 points up also but higher levels good intraday selling developed in Mid-Session therefore 245 points sharp fall was seen in last hour.

As lower levels good intraday consolidation was seen between 23351-23494 yesterday and higher levels good intraday Selling was also seen between 23694-23780 today also therefore firstly Nifty will trade and prepare for next decisive moves within and near about 23351-23780 in the coming sessions and finally sustaining beyond this range will generate next one sided decisive moves which should be watched in the coming sessions.

Upward moves expectations above

today highest

Nifty-Intra Day Chart Analysis & 

Market Outlook(19-11-2024)

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

Technical Patterns formation in today intraday charts

1- Consolidation Patterns formation between 23351-23494

2- Whole day actual trading between 23351-23606

Conclusions from intra day chart analysis 

Although firstly down moves after positive opening and Nifty closed 78 points down also but whole day intraday consolidation Patterns formations therefore upward moves are expected above today highest(23606). 

Long Term Trend is at stake & Levels will confirm its formation that side bigger moves beginning

Technical Analysis,Research & Weekly Outlook

(Nov 18 to Nov 22,2024

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (14-Nov-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 and corrective Wave-4 beginning.

9- Corrective Wave-4 continuation with recent bottom formations at 23484.20 on 14-11-2024.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started after corrective Wave-C of "ABC correction" of previous Waves structure completion at 15183.40 on 17-06-2022. Impulsive Wave-1 completed at 18887.60 on 01-12-2022 and from this level corrective 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 20222.4 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 begun started this level. 

Impulsive Wave-(iii) of Wave-3 completed with new life time top formations at 26277.30 on 27-09-2024 and Intermediate Term correction of Wave-4 started which is now in continuation with its recent bottom formations at 23484.20 on 14-11-2024. and no indication of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (14-Nov-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 5.67 & %D(3)- 18.51.

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

4- MACD(26,12)- -351.03 & EXP(9)- -443.69 & Divergence- 92.66

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 within Over sold zone therefore it will be understood Indian markets are completely Oversold. Whenever its both lines will move above Oversold Zone after its lines upward intersection then decisive upward moves will be seen.

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

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (14-Nov-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 23852 

2- 21-Day SMA is today at 24270 

3- 55-Day SMA is today at 244925

4- 100-Day SMA is today at 24719 

5- 200-Day SMA is today at 23556

Conclusions from EOD chart analysis

(Averages)

Short and Intermediate Term Trends were already down and in previous week Nifty has tested Long Term Trend decider 200-Day SMA also in last 2 sessions as well as Nifty closed below it in last trading session i.e. last Thursday therefore it will be understood that Long Term Trend is at stake as well as once sustaining below it will mean deeper correction beginning after Long Term Trend turning down confirmations. As finally sustaining beyond 200-Day SMA will confirm that side bigger moves beginning therefore it should be firstly watched in the coming week/weeks for that side bigger moves beginning after that Long Term Trend formations confirmations .

Nifty-Intra Day Chart Analysis

(14-Nov-2024)

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

Technical Patterns formation in today intraday charts

1- 120 Points down in first half hour

2- 172 Points sharp jump in 25 minutes.

3- Downward moves in Bullish Falling Channel

4- More than 4 hours consolidation Patterns formation between 23485-23569

5- Whole day actual trading between 23485-23675

Conclusions from intra day chart analysis 

Although firstly 120 points down in first half hour but after that 172 points sharp jump was also seen in the next 25 minutes. As after this first hour high volatility firstly  downward moves were seen in Bullish Falling Channel which is a consolidation pattern and then follow up more than 4 hours consolidation in sideways market through consolidation Patterns formation between 23485-23569 therefore it will be understood that good intraday consolidation pattern developed last Thursday.

As in previous trading session ie last Thursday good intraday consolidation patterns were seen therefore firstly strong bounce back or Pull Back Rally beginning will be seen in next week.

Conclusions

(After putting all studies together)

1- Long Term Trend is at stake.

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 Corrective Wave-4 started which is now in continuation with recent bottom formations at 23484.20 on 14-11-2024 and no indication of its completion yet on EOD and intraday charts

Averages are confirming that Short and Intermediate Term Trends are down and Long Term Trend is at stake as well as finally sustaining beyond its decider 200-Day SMA will confirm its next Trend in the coming week/weeks.

As Short Term indicators are Over sold and last Thursday intraday charts are showing good intraday consolidation therefore firstly upward moves or strong bounce back or Pull Back Rally beginning will be seen in the beginning of next week therefore firstly sustaining beyond following next resistances should be watched in the next week/weeks for the life and length of expected upward moves;-

1- 23915-24034

2- 24091-24242

3- 24264-24315

Next supports below last Friday closing are as follows:-

1- 23502-23530

2- 23358-23476

3- 23161-23206

4- 22961-23096

5- 22760-22871

6- 22291-22395

7- 21884-22191

8- 21502-21582

9- 21417-21500

Fibonacci Retracement Crucial levels of Wave-(iii) of Wave-3(18837.80-26277.30) are as follows which should also be watched for next Trend formation first indication and final confirmations:- 

38.2%- 23,435 (Crucial Level)

50.0%- 22,557 (Crucial Level)

61.8%- 21,679 (Crucial Level)

Certainly Long Term Trend is at stake and firstly sustaining beyond above levels should be watched for its finally formation that side bigger moves beginning confirmations. 

Strong bounce back or Pull Back Rally beginning in the coming 2/3 sessions

Nifty-Intra Day Chart Analysis &

Market Outlook(14-11-2024)

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

Technical Patterns formation in today intraday charts

1- Whole day down moves in Bullish Falling Channels

2- Whole day actual trading between 23510-23873

Conclusions from intra day chart analysis 

Live Proofs of our 100% accurate 

Nifty predictions & Analysis

Following lines were told on 09-11-2024 in "Watch next supports & levels after Corrective Wave-4 continuation confirmations":-

1- Intermediate Term Correction is very much on and downward moves towards 200-Day SMA with its testing also can not be ruled out

2- downward moves are expected below today lowest(24066.65) in the beginning of next week.

3- Corrective Wave-4 is very much on and now in continuation towards following next supports

As was told 100% same happened

1- Nifty tested 200-Day SMA(Today at 23545) today and closed closed just above it at 23559.05 after forming today intraday lowest below it at 23,509.60.

2- Nifty corrected 648 points in this week.

Although whole day down after weaker opening and Nifty closed 1.36% down also but whole day today down moves were in Bullish Falling Channels therefore it will be understood that 1st signal of consolidation process has begun. As Indian markets were too much weaker today and Nifty tested Long Term Trend decider 200-Day SMA(Today at 23545) also therefore certainly Long Term Trend is at stake and finally sustaining beyond 200-Day SMA will confirm in the coming week/weeks:-

1- Emergence of 1st signal of correction completion will be after sustaining above it.

2- Depper correction beginning will be after sustaining below it because that will confirm Long Term Trend turning down.

As consolidation process has begun today and Short Term indicators have also turned Over sold therefore strong bounce back or Pull Back Rally will be seen in the coming 2/3 sessions.

Correction continuation therefore 

firstly watch next supports & levels

Nifty-Intra Day Chart Analysis &

Market Outlook(13-11-2024)

Nifty-Intra Day Chart (12-Nov-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 24091-24242

2- Downward moves

3- Selling between 23915-24034

4- Whole day actual trading between 23840-24242

Conclusions from intra day chart analysis 

Although firstly upward moves after positive opening but could not sustain at higher levels because selling developed in first 3 hours and after that follow up selling was also seen in Mid-session after some downward moves therefore Nifty closed near the lowest of the day after loosing 257 points today.

As whole day intraday selling was seen therefore down ward moves are expected in the coming session also. Correction is being seen and it was was expected also therefore following lines should be kept in mind which were told on 09-11-2024 in this week Weekly Analysis following topic:-

 "Watch next supports & levels after Corrective Wave-4 continuation confirmations"

Corrective Wave-4 is very much on and now in continuation towards following next supports and levels which should be watched one by one for next immediate moves beginning confirmations:-

1- Supports:-

1- 23817-24025   

3- 23671-23734

4- 23563-23612

5- 23502-23537

6- 23358-23476

2- Fibonacci Retracement Crucial levels of Wave-(iii) of Wave-3(18837.80-26277.30):- 

38.2%- 23,435 (Crucial Level)

50.0%- 22,557 (Crucial Level)

61.8%- 21,679 (Crucial Level)

3- Long Term Trend decider 200-Day SMA which is today at 23508.

Firstly watch 2 levels after today 

like intraday high volatility

Nifty-Intra Day Chart Analysis &

Market Outlook(12-11-2024)

Nifty-Intra Day Chart (11-Nov-2024):-

Technical Patterns formation in today intraday charts

1- 143 Points negative trading in first minute.

2- 331 Points up till 11:45 AM.

3- 252 Points down till 02:20 PM. 

4- Whole day actual trading between 24005-24336

Conclusions from intra day chart analysis 

As intraday selling patterns were also seen last Friday therefore Nifty firstly traded 143 points down in first minute and then upward moves begun after getting supports in that 1st support range(23817-24025) which was updated on 09-11-2024 in this week Weekly Analysis following topic:-

 "Watch next supports & levels after Corrective Wave-4 continuation confirmations"

Whole day only high intraday volatility within above mentioned levels was seen today because last 2 sessions most time trading was between 24142-24255 in which Mixed Patterns formations were also seen therefore today volatility was above and below 24142-24255 as well as today closing was also just below this range at 24141.30 today.

As Very Short Term technical positions reverses also during such today like high intraday volatility therefore firstly sustaining beyond following 2 levels should be watched one by one for one sided decisive bigger moves beginning confirmations;-

1- 24142-24255(Last 2 sessions most time trading range) 

2- 24084-24336(Today volatility range)