Firstly watch next supports amid Global markets led crashing like situation

Technical Analysis,Research & Weekly Outlook

(May 04 to May 08,2020)

Nifty-EOD Chart Analysis 

(Waves structure of Wave-B)

Nifty-EOD Chart (30-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 of Wave-B beginning after corrective Wave-A completion at 7511.10 on 24-03-2020
2- Impulsive Wave-1 completion at 9038.90 on 27-03-2020 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 8055.80 on 03-04-2020 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 9390.85 on 20-04-2020 and corrective Wave-4 beginning
5- Corrective Wave-4 completion at 8909.40 on 21-04-2020 and impulsive Wave-5 beginning
6- Impulsive Wave-5 of Wave-B continuation with recent top formation at 9889.05 on 30-04-2020

Conclusions from EOD chart analysis

(Waves structure of Wave-B)

Impulsive Wave-5 of Wave-B continuation with recent top formation at 9889.05 on 30-04-2020 no confirmation of its completion yet.

Nifty-EOD Chart Analysis 

(Bollinger Band & Stochastic)

Nifty-EOD Chart (30-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves" beginning
2- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning
3- Wave-B continuation with recent top formation at 9889.05 on 30-04-2020
4- Wave-B tested upper band of Bollinger Band
5- Stochastic-%K(5) is at 93.61 & %D(3) is at 85.64

Conclusions from EOD chart analysis 

(Bollinger Band & Stochastic)

As on going Wave-B tested upper band of Bollinger Band and Short Term indicator(Stochastic) has also moved into Over bought zone therefore strong signals of short term correction beginning in next week.

Nifty-EOD Chart Analysis 

(Fibonacci retracement levels of Wave-B)

Nifty-EOD Chart (30-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

Nifty-Fibonacci Retracement levels of corrective Wave-A(7511.1 to 9889.05):-

1- 13.0%- 9579.92 
2- 23.6%- 9327.85 
3- 27.0%- 9247.00 
4- 38.2%- 8980.67 (Crucial)
5- 50.0%- 8700.07 (Crucial)
6- 61.8%- 8419.48 (Crucial) 
7- 70.7%- 8207.84 
8- 76.4%- 8072.30 
9- 78.6%- 8019.98 
10-88.6%- 7782.19  

Conclusions from EOD chart analysis 

(Fibonacci retracement levels Wave-B)

As indicators are suggesting correction therefore above given retracement levels Wave-B should be watched for next targets of correction one by one.

Nifty- 

Last 30 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 13 to Apr 30,2020):-

Just click on chart for its enlarged view

Technical Patterns formation in last 30 Sessions intraday charts

1- Selling(Resistances) in last 30 sessions between
A- 9841-9889
B- 9955-10142
2- Consolidation(Supports) in last 30 sessions
A- 9770-9834
B- 9392-9518
C- 9154-9227
D- 8913-8972
E- 8700-8750
F- 8361-8449
G- 8056-8107
H- 7512-7970
3- Previous 28 Sessions actual trading between 7512-9602
4- Trading between 9732-9889 on 30-04-2020
5- Trading between 8556-10159 on 10% Lower circuit filter triggering day(13-03-2020)
6- Last 30 Sessions actual trading between 7512-10159 

Conclusions from 30 Sessions intra day chart analysis 

Although 10% Lower circuit filter triggered on 13-03-2020 and Nifty recovered 1604.25 points from lower levels as well as closed at the higher levels of the day but Nifty opened much weaker on next trading day(16-03-2020) and since then remained sideways in the next 28 Sessions between 7512-9602. 

This 28 Sessions trading range was broken out on 30-04-2020 and Nifty traded whole day above it between 9732-9889 as well as good consolidation was seen but could not move above the highest of 13-03-2020 because there was good selling(resistances) between 9955-10142 on that day. 

It means that follow up consolidation is firstly required for moving and sustaining above 10142 and if fresh selling develops in next week and Nifty sustains below Previous 28 Sessions trading range highest(9602) then that will mean again sideways market between 7512-9889 and break out of 30-04-2020 will be understood only sentiments driven false break out. 

Nifty-Intra Day Chart Analysis

(13-Mar-2020)

Nifty-Intra Day Chart (13-Mar-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 10% Lower circuit filter triggered in first 3 minutes
2- Nifty recovered 1604.25 points from lower levels
3- Selling between 9955-10142(Immediate Resistances)
4- Whole day actual trading between 8556-10159

Conclusions from intra day chart analysis 

As WHO declared the worldwide outbreak of the new Coronavirus a pandemic therefore all the Global markets crashed and resultant Nifty triggered 10% lower circuit filter within first 3 minutes on 13-03-2020. As soon as market opened after circuit filter then Nifty recovered more than 600 points within first 10 minutes and after up moves remains continued as well as Nifty gained 1604.25 points from lower levels.

Although closing was near the higher levels of the day but sentiment improved due to some positive news flow during trading hours that day therefore selling developed between 9955-10142 and Nifty tested as well as closed within this range on 30-04-2020. As 9955-10142 is immediate Resistance of Nifty therefore complete fresh consolidation is firstly required for moving and sustaining above 10142.

Nifty-Intra Day Chart Analysis

(30-Apr-2020)

Nifty-Intra Day Chart (30-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves after gap up strong opening with downward corrections
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Consolidation between 9770-9834
5- Sharp up in last hour
6- Whole day actual trading between 9732-9889

Conclusions from intra day chart analysis 

As sentiment turned heated after strong Global markets therefore strong gap up opening and after that up moves with downward corrections also but higher levels some profit booking was seen through Up moves in Bearish Rising Channel hence down moves seen in Mid-session. These down moves were in Bullish Falling Channel and after that consolidation was also seen between 9770-9834 therefore sharp up moves in last hour and closing was near the higher levels of the day.

As minor selling at higher levels and whole day good consolidation as wel as good selling not seen yet therefore view will not be Bearish only from intraday charts paterns formations. 

Conclusions 

(After Putting All Studies Together)

1- Long term trend is down.
2- Intermediate term trend is up.
3- Short term trend is up.

As Dow Jones slipped more than 900 points after Indian markets closing last Thursday and SGX Nifty has moved down more than 500 Points in last 2 sessions therefore weaker gap down opening will be seen in Indian markets also if same depressing sentiment persists till next Monday morning also.

Wave-B is very much on and no confirmation of its completion yet. As going Wave-B tested upper band of Bollinger Band and Short Term indicator(Stochastic) has also moved into Over bought zone therefore strong signals of short term correction beginning in next week but intraday charts have not shown sufficient selling patterns yet therefore fresh selling patterns are firstly required for decisive down moves beginning which may be seen at lower levels also if most depressing sentiments led weaker opening will be seen.

Fibonacci retracement levels Wave-B and all the 8 supports of Wave-B have been updated above and those levels should be watched in next week for Very Short up moves and until Nifty will not sustain above last resistances(9955-10142) of previous 30 sessions trading range after complete fresh cosolidation till then decisive up moves will not be seen as well as Nifty will be understood sideways within last 29 sessions trading range(7511-9889).

If Global markets led crashing like situation remains continued in next week then trades should be between above given 8 supports/retracement levels one by one and top of last 29 sessions trading range(9889)

Up moves above today highest if Global markets not crashing

Intra Day Chart Analysis & Market Outlook

(30-04-2020)

Nifty-Intra Day Chart (29-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 9392-9518
2- Sharp up moves
3- Down moves in Bullish Falling Channel in last hour
4- Whole day actual trading between 9392-9599

Conclusions from intra day chart analysis 

As some selling patterns formations yesterday therefore we were expecting down moves for today but as soon as we saw positive sentiment today morning due to Bullish news flow then we told following lines at 08:300 AM today in "Pre-open Outlook(27-04-2020)":-

As selling patterns formation below 9403 yesterday therefore firstly sustaing above it should be watched today because firstly follow up moves  and finally sustaining it beyond will confirm next short Term moves.

Although Nifty slipped below 9403 but firstly consolidated more than 4 hours between 9392-9518 because next resistances above 9403 were between 9430-9584 and then sharp up moves were seen. As more consolidation was required for sustaining above next resistances(9430-9584) therefore it was seen in last hour through Down moves in Bullish Falling Channel.

As whole day good consolidation today within above mentioned resistances therefore up moves are expected above today highest(9,599.85) if Global markets not crashing.

Pre-open Outlook(27-04-2020)

As folowing positive developments today morning therefore Green opening will be seen today morning:-

1- Union cabinet meeting to discuss economic relief package 
2- Dow Jone's Futures is trading more than 200 points up
3- All the Asian markets are trading in Green and most are more than 0.60% up.

As selling patterns formation below 9403 yesterday therefore firstly sustaing above it should be watched today because firstly follow up moves  and finally sustaining it beyond will confirm next short Term moves.

Expectations of down moves towards next supports

Intra Day Chart Analysis & Market Outlook
(29-04-2020)

Nifty-Intra Day Chart (28-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 144 Points fall in first hour
1- All the Up moves in Bearish Rising Channels during last 5 hours
3- Whole day actual trading between 9260-9404

Conclusions from intra day chart analysis 

Following lines were told on 25-04-2020 in "Short term trading levels will produce first indication of next big moves":-
.
1- Selling(Resistances) in last 21 sessions between:-

A- 9254-9403
B- 9430-9584

first signal will be after sustaining beyond last 21 sessions trading range(8822-9390)

Nifty honoured above levels in following manner today:-

1- 1st Resistances was told between 9254-9403 and today highest formation was at 9404.40
2- First signal was told after sustaining beyond beyond 8822-9390 and Nifty closed below 9390 at 9380.90 today.

Although Nifty closed at the highest of on going rally and tested also upper levels of above given ranges but view will not be Bullish because all the Up moves of today were in Bearish Rising Channels and some selling cannot be ruled out on the back of these up moves.

Let Nifty to consolidate and sustain above given levels(9390 and 9403) only then immediate up moves will be considered otherwise if Nifty fails to sustain above and follow up selling develop tomorrow then decisive down moves will be seen towards next supports and it is expected also:-

1- 8913-8972
2- 8700-8750
3- 8361-8449

As busy therefore Stock Market Outlook of today(28-04-2020) is not being updated.

Live Proofs of Our 100% accurate Bullish & Bearish Predictions of Nifty & Indian Stock Markets

Who told in whole India
 for deeper correction 
at 12113.50 on 15-02-2020 
&
Rock Bottom support 
at 7511.10 on 24-03-2020

Bullish Predictions

When Nifty formed bottom at 7511.10 on 24-03-2020 then we told following lines on 28-03-2020 in "More than 20% Rally of Nifty and up moves above 10000 if Coronavirus situation does not worsen":-

1- We told "4 Times" that "7511.10 is Rock bottom support"
2- We also told for 7511.10 that "it will not be easily broken down"

Nifty is trading above 7511.10 since then despite Corona Virus led huge problems.

Bearish Predictions

when previous closing of Nifty was at 12113.5 then we told following lines on 15-02-2020 in "Strong signals of deeper correction beginning from next week":-

Correction is expected in next week which may be deeper also.

Deeper correction was told and Nifty crashed 4600 points after our above Prediction

(Just click above topic links and see its live proofs on yours own)

Short term trading levels will produce first indication of next big moves

Technical Analysis,Research & Weekly Outlook

(Apr 27 to Apr 30,2020)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (24-Apr-2020):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11171.50 on 29-01-2018 and corrective Wave-4 beginning
5- Corrective Wave-4 completion at 9951.90 on 23-03-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 completion after new life time high formation at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves"  beginning
7- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning
8- Wave-B continuation with recent top formation at 9390.85 on 20-04-2020

Conclusions from EOD chart analysis(Waves structure)

The rally which started from 6825.80 on 29-02-2016 completed at 12430.50 on 20-01-2020 and then corrective Wave-A of its "ABC" correction begun which completed at 7511.10 on 24-03-2020.

Now impulsive Wave-B of "ABC" correction continuation with recent top formation at 9390.85 on 20-04-2020 and no confirmation of its completion yet.

Nifty-EOD Chart Analysis

(Corrective Waves)

Nifty-EOD Chart (27-Mar-2020):-

Technical Patterns and Formations in EOD charts
1- Impulsive Wave-5 completion at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves" beginning
2- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning
3- Wave-B continuation with recent top formation at 9390.85 on 20-04-2020
4- Last 26 Sessions sideways trading between 7512-9602

Conclusions from EOD chart analysis 

(Corrective Waves)

"ABC" correction which started from 12430.50 on 20-01-2020 is very much on,its corrective Wave-A completed at 7511.10 on 24-03-2020 and now its impulsive Wave-B continuation with recent top formation at 9390.85 on 20-04-2020. 

Nifty

Last 26 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 16  to Apr 24,2020):-

Technical Patterns formation in last 26 Sessions intraday charts

1- Selling(Resistances) in last 21 sessions between
A- 9254-9403
B- 9430-9584
2- Consolidation(Supports) in last 21 sessions
A- 8913-8972
B- 8700-8750
C- 8361-8449
D- 8056-8107
E- 7512-7970
3- Last 10 sessions(09-04-2020 & 24-04-2020) trading between 8822-9390
4- 26 Sessions actual trading between 7512-9602

Conclusions from 26 Sessions intra day chart analysis

As Last 26 Sessions sideways trading between 7512-9602 with above mentioned higher levels 2 resistances and lower levels 5 supports therefore it will be understood that at present Nifty is not prepared for any side big moves and firstly will have to trade and prepare for those big moves within this range which will be firstly done in next week.

Let market prepare then will be decided according to intraday charts preparation and sustaining beyond or forceful break out of last 26 Sessions trading range(7512-9602) and its first signal will be after sustaining beyond last 10 sessions trading range(8822-9390).

Nifty-Intra Day Chart Analysis 

(24-Apr-2020)

Nifty-Intra Day Chart (24-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Consolidation between 9154-9227
2- Package news led volatility in last 4 hours
3- Whole day actual trading between 9142-9296

Conclusions from intra day chart analysis

As the news of Finance minister meeting with Prime Minister at  12 o'clock for Package to industry was in all the Business news channels since last Friday morning therefore firstly up moves were seen after lower levels consolidation between 9154-9227 but could not sustain at higher levels and slipped in last 3 hours after the news of meeting postponement.

Although closing was near the lower levels of the day but lower levels consolidation and volatility was seen in last 4 hours as well as clear selling patterns have not developed therefore firstly sustaining beyond last Friday lowest(9142) should be watched in the beginning of next week for decisive down/up moves beginning confirmations.

Conclusions 

(After Putting All Studies Together)

1- Long term trend is down.
2- Intermediate term trend is sideways between 7512-9602 for the last 26 Sessions.
3- Short term trend is up.

Now Wave-B continuation with recent top formation at 9390.85 on 20-04-2020. As last 26 Sessions sideways trading between 7512-9602 and Wave-B is trading within this range since its beginning therefore finally break out of this range will confirm the life of Wave-B hence should be firstly watched in the coming week/weeks for Wave-B continuation/completion.

As 26 Sessions like big sideways trading period therefore finally break out of this range(7512-9602) will give more than 10% one sided following big moves:-

1- Above 9602 will mean Wave-B continuation towards following crucial Wave-A retracement levels:-
A- 50.0%- 9970 (Crucial)
B- 61.8%- 10551(Crucial) 
{Fibonacci Retracement levels of Wave-A were updated in previous weekly Outlook(Apr 20 to Apr 24,2020)}
2- Below 7512 will mean corrective Wave-C(deeper correction) beginning after Wave-B completion confirmations.

As last 10 sessions(Short term) trading between 8822-9390 and finally sustaining beyond this range will produce first indication of above mentioned next big moves therefore should also be firstly watched in the coming week/weeks.   

Watch levels also amid down moves expectations

Intra Day Chart Analysis & Market Outlook

(24-04-2020)

Nifty-Intra Day Chart (23-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels
2- Down moves in Bullish Falling Channel in Mid-Session
3- Sideways trading between 9309-9343 in last hour
4- Whole day actual trading between 9171-9343

Conclusions from intra day chart analysis 

Although today closing was near the higher levels of the day but all the Up moves were in Bearish Rising Channels therefore emergence of selling signals and resultant down moves expectations have developed today. 

As some buying through Down moves in Bullish Falling Channel up to 9240 in Mid-Session and sideways trading between 9309-9343 in last hour therefore if fresh selling develops then correction beginning confirmation will be after sustaining below 9240. 

Expected that Nifty will firstly trade prepare for next moves within and near about 9240-9403 and finally sustaining beyond this range will confirm next decisive moves which should also be watched amid down moves expectations below 9240.

Levels will generate first signal amid sideways trading sessions

Intra Day Chart Analysis & Market Outlook

(23-04-2020)

Nifty-Intra Day Chart (22-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Consolidation between 8947-9000
2- Whole day up moves with downward corrections
3- Whole day actual trading between 8947-9209

Conclusions from intra day chart analysis 

Although most Asian markets were trading in deep Red today morning after Dow Jones fall by 641 points yesterday but Indian markets were trading flat therefore we told following lines at 09:44 AM today in "Post-open Outlook(22-04-2020)":-

1- As Indian markets are out performing all the Global markets and trading only 10 points down despite most Global markets deep Red today
2- therefore firstly sustaining beyond yesterday support range(8910-8944) should be watched today for next decisive moves beginning

Nifty could not slip below 8944 and moved up after today lowest formation at 8946.25 as well as whole day up moves were seen with downward corrections and lower levels consolidation between 8947-9000 therefore today trading will be understood with continuous intraday consolidations.

Nifty consolidated between 8910-8944 yesterday and follow up consolidation was seen just above it between 8947-9000 therefore immediate supports of nifty will be understood between 8910-9000 and until Nifty will not sustain below 8910 after complete fresh selling till then decisive down moves will not be seen below 8910. 

As immediate resistances of Nifty are lying between 9300-9403 therefore firstly Nifty will have to trade and prepare for next decisive moves between 8910-9403 hence Nifty will remain sideways within this range in the coming 2/3 sessions.

First expected trading range of Nifty is between 9060-9300 and sustaining beyond this range will generate first signal of next decisive moves beginning which should be watched,  

Post-open Outlook(22-04-2020)

As Indian markets are out performing all the Global markets and trading only 10 points down despite most Global markets deep Red today therefore firstly sustaining beyond yesterday support range(8910-8944) should be watched today for next decisive moves beginning

8700 Will confirm sharp fall towards next deeper supports

Intra Day Chart Analysis & Market Outlook

(22-04-2020)

Nifty-Intra Day Chart (21-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 9001-9044
2- Down moves in Mid-sessions
3- Consolidation between 8910-8944
4- Volatility in last hours between 8940-9007 
5- Whole day actual trading between 8910-9044

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Correction towards next supports expectations":-

Correction towards following next supports one by one and it is expected also:-

1- 9092-9173
2- 8913-8972
3- 8654-8750

As was told yesterday 100% same happened today through:-

1- 3.03% Correction.
2- Nifty got support just below above mentioned 2nd supports range(8913-8972) at 8909.40 and closed just above it at 8981.45 today.

As firstly more than 2 hours selling after 245 points weaker opening therefore down moves were seen in Mid-sessions. Although consolidation at lower levels but some intraday volatility in last hours therefore more selling can not be ruled during this period hence more down moves are expected towards above mentioned next 3rd supports range(8654-8750).

Be cautious because supports between 8654-8700 are weaker therefore once follow up selling and after that sustaining below 8700 will mean sharp fall confirmation towards following next deeper supports:-

1- 8361-8449
2- 8056-8107
3- 7512-7970

Correction towards next supports expectations

Intra Day Chart Analysis & Market Outlook

(21-04-2020)

Nifty-Intra Day Chart (20-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Slipping 118 points in first 3 minutes after gap up strong opening
2- Up moves in Bearish Rising Channels
3- Down moves in Bullish Falling Channel
4- Consolidation between 9231-9270
5- Sharp fall from higher level
6- Whole day actual trading between 9231-9390

Conclusions from intra day chart analysis 

Following conclusive lines were told on 18-04-2020 in "Next resistance range will confirm more than 10% one sided decisive moves ":-

As firstly follow up moves within and/or near about next resistance range(9254-9403) and finally sustaining it beyond will confirm the life of on going rally with more than 10% one sided decisive moves also therefore should be watched in next week. 

As was told 100% same happened and Nifty traded whole day within and near about above mentioned resistance range(9254-9403) and closed also within it at 9261.85 today.

Although lower levels some consolidation and closing also between 9231-9270 today but higher levels good selling also through Up moves in Bearish Rising Channels therefore sharp fall from higher level was seen in last hour.

As higher levels good selling today therefore once sustaining below today loweest(9231) will mean correction towards following next supports one by one and it is expected also:-

1- 9092-9173
2- 8913-8972
3- 8654-8750

Next resistance range will confirm more than 10% one sided decisive moves 

Technical Analysis,Research & Weekly Outlook

(Apr 20 to Apr 24,2020)

Nifty-EOD Chart Analysis 

(Averages & Stochastic)

Nifty-EOD Chart (17-Apr-2020):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves" beginning
2- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning
3- Wave-B continuation with recent top formation at 9324.00 on 17-04-2020
4- SMA(Simple Moving Averages)
A- 5-Day SMA is at 9058
B- 13-Day SMA is at 8719
C- 55-Day SMA is at 10474
D- 200-Day SMA is at 11311
5- Stochastic-%K(5) is at 69.03 & %D(3) is at 73.42

Conclusions from EOD chart analysis (Averages & Stochastic)

The rally which started from 7511.10 on 24-03-2020 is very much on through moving above both short Term Averages(5 and 13) and 5-Day SMA has also moved above 13-Day SMA which is another positive signal but Stochastic has become over bought and showing negative divergence also therefore emergence of short Term Correction beginning signals,let clear selling patterns develop on intraday charts then its continuation will be seen.

Nifty-EOD Chart Analysis

(Fibonacci retracement levels)

Nifty-EOD Chart (17-Apr-2020):-

Technical Patterns and Formations in EOD charts

Nifty-Fibonacci Retracement levels of corrective Wave-A(7511.1 to 12430.50):-

1- 13.0%- 8150 (Retraced)
2- 23.6%- 8672 (Retraced)
3- 27.0%- 8839 (Retraced)
4- 38.2%- 9390 (Crucial)
5- 50.0%- 9970 (Crucial)
6- 61.8%- 10551(Crucial) 
7- 70.7%- 10989
8- 76.4%- 11269
9- 78.6%- 11377
10-88.6%- 11869 

Conclusions from EOD chart analysis (Fibonacci retracement levels)

As 27.0% Retracement has been completed and last Friday highest was little below 38.2%(9390) level at 9324 as well as Nifty closed at the top of on going Pull Back rally therefore firstly sustaining beyond 38.2%(9390) should be watched in next week because that will decide:-
1- Sustaining above 9390 will mean rally continuation towards and/or above 50.0% retracement level(9970)
2- Sustaining below 9390 will mean slipping towards and/or below the bottom(7511.10) of on going rally

NiftyLast 21 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Mar 16 to Apr 17,2020):-

Technical Patterns formation in last 21 Sessions intraday charts

1- Selling(Resistances) in last 21 sessions between
A- 9254-9403
B- 9430-9584
2- Consolidation(Supports) in last 21 sessions
A- 9092-9173
B- 8913-8972
C- 8654-8750
D- 8361-8449
E- 8056-8107
F- 7512-7970
3- Mixed Patterns formation  
4- 21 Sessions actual trading between 7512-9602 

Conclusions from 21 Sessions intra day chart analysis 

Last 21 Sessions sideways trading between 7512-9602 with above mentioned higher levels 2 resistances and lower levels 6 supports therefore firstly Nifty will have to trade and prepare for next decisive moves within this range and finally sustaining beyond this range will confirm next big moves(more than 10%) which should be watched in the coming week/weeks.

Nifty-Intra Day Chart Analysis

(17-Apr-2020)

Nifty-Intra Day Chart(17-Apr-2020):-

Technical Patterns formation in today intraday charts

1- Sideways up to 10 AM after more than 3% gap up opening
2- Down moves in Bullish Falling Channels
3- Consolidation between 9092-9173(Immediate Supports)
4- Up moves in Bearish Rising Channel
5- Whole day actual trading between 9092-9324

Conclusions from intra day chart analysis 

As following 3 reasons therefore more than 3% gap up opening on 17-04-2020:-

1- High expetations from RBI Governor Press Conference which was scheduled at 10:00 AM same day.
2- Dow Jones'S Fututes was trading more than 850 points up since morning on the news of more than 1300 patients recovery from Corona after taking a specific medicine.
3- All the Asian markets were trading strong since morning.

Although huge gap up opening and traded also with such good gains till 10:00 AM but started to slip immediately after RBI Governor Press Conference beginning. As all the down moves till 12;00 PM were in Bullish Falling Channels and lower levels consolidation also between 9092-9173 therefore up moves were seen in last 2 hours.

As last hours Up moves were in Bearish Rising Channel therefore some profit booking can not be ruled out because sentiment turned heated in last hours due to news of Package by Finanace Ministery on 18-04-2020 and all Global markets were trading strong at that time.

Conclusions 

(After Putting All Studies Together)

Nifty-EOD Chart Analysis(Waves structure) was updated in the weekly Outlook of Apr 07 to Apr 09,2020 and no material change in Waves structure since then therefore it is not being posted in this week.

1- Long term trend is down.
2- Intermediate term trend is sideways between 7512-9602 for the last 21 Sessions.
3- Short term trend is up.

Corrective Wave-A completed at 7511.10 on 24-03-2020 and after that impulsive Wave-B begun which is in continuation with recent top formation at 9324.00 on 17-04-2020 and no confirmation of its completion yet. 

Although last Friday closing was at the top of on going rally with new top(9324.00) formation of on going rally but due to following reasons therefore view will be cautiously Bullish:-

1- Economic package news on 18-04-2019 was in Business news Channels.
2- All European markets were trading more than 3.5% up at the time of Indian markets closing
3- Dow Jones Futures was trading more than 700 points up at the time of Indian markets closing
4- All the Asian markets closed 1.5% to 3% up

As 3.05% positive closing was on the back of above positive news flow on 17-04-2019 therefore firstly sustaining above last Friday highest(9324.00) should be watched in the beginning of next week because following resistances are lying above last Friday closing:-

1- 9254-9403
2- 9430-9584

Although Short Term indicators have turned over bought and showing negative divergence also but sufficient selling patterns have not developed on intraday charts yet therefore firstly next 1/2 sessions of next week should be watched because if fresh selling develops then Short Term Correction will be seen in next week

Above mentioned 1st resistance range(9254-9403) has become most crucial for next week because;-

1- 38.2% retracement level(9390) is lying within it.
2- Recent top of Wave-B(9324.00) and last Friday closing(9266.75) is also within it

As firstly follow up moves within and/or near about next resistance range(9254-9403) and finally sustaining it beyond will confirm the life of on going rally with more than 10% one sided decisive moves also therefore should be watched in next week. 

Finally 2 trading ranges will confirm next big moves

Intra Day Chart Analysis & Market Outlook

(17-04-2020)

Nifty-Intra Day Chart (16-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections 
2- Selling between 8997-9053 
3- Whole day actual trading between 8822-9053

Conclusions from intra day chart analysis 

Although today closing was near the higher levels of the day but higher levels selling was seen between 8997-9053 therefore follow up selling is must for decisive down moves below today lowest because first 4 hours today up moves were with intraday corrections.

Last 5 sessions trading between 8654-9261 and most time trading within this range is between 8905-9128 therefore finally sustaining beyond these 2 trading ranges should be watched one by one in the coming sessions/weeks for next big moves beginning confirmations.

Sustaining beyond will confirm 8905-9128 next trend amid high volatility

Intra Day Chart Analysis & Market Outlook

(16-04-2020)

Nifty-Intra Day Chart (15-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Almost 3% up after strong gap up opening
2- Intraday correction
3- sharp fall after fast down moves in European markets and Dow Jones's Futures 
4- Whole day actual trading between 8875-9261

Conclusions from intra day chart analysis 

Although Dow Jones's Futures was trading more than 150 points down and most Asian markets were flat to negative today morning but strong gap up opening of Indian markets and Nifty traded almost 3% up also in such depressed Global markets sentiments as well as remained more than 2% up despite more than 1% weaker opening of most European markets. In this manner it will be understood that Indian markets completely out performed all Global markets.

As Dow Jones's Futures moved down more than 300 points and all the Europen markets also moved down fast therefore sharp fall was seen in Indian markets after 01:55 PM and Nifty closed 0.76% down despite more than 2.5% fall in most European markets.

Following lines were told yesterday in "Levels will give first strong indication of next decisive moves":-

sustaining beyond 8905-9128 should also be watched because Coronavirus news led huge volatility may be seen any day and these levels will give first strong indication of next decisive moves. 

As Nifty closed within yesterday mentioned trading range(8905-9128) at 8925.30 today amid  Global markets led high volatility therefore firstly sustaining beyond 8905-9128 should be watched for next trend confirmations because technical positions reverses in today like high volatility and out performance on all Global markets.

Levels will give first strong indication of next decisive moves 

Intra Day Chart Analysis & Market Outlook

(15-04-2020)

Nifty-Intra Day Chart (13-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp down after flat opening
2- Consolidation between 8913-8972
3- Selling between 9016-9100
4- Last 2 hours trading with Mixed Patterns formation between 8941-9031
5- Whole day actual trading between 8913-9112

Conclusions from intra day chart analysis 

Following lines were told on 10-04-2020 in "Levels will confirm next trend according to Coronavirus problem solution timings":-

Nifty will firstly trade and prepare for next one sided decisive within and near about last Thursday trading range(8905-9128) and finally sustaining it beyond should be watched in the beginning of next week for confirmations.

As was told 100% same happened and Nifty traded within mentioned trading range(8905-9128) last Monday.

Although firstly sharp down after flat opening but lower levels consolidation was seen therefore some up moves were seen. As follow up selling at higher levels therefore slipped and last 2 hours trading was seen with Mixed Patterns formation. Both consolidation and selling therefore last Monday whole trading will be understood with Mixed Patterns formation only.

As last 2 sessions trading between 8905-9128 with both consolidation and selling therefore it will be understood that Indian markets are not prepared for any side decisive moves and firstly will have tp prepare for one sided moves which will be done in the coming sessions within or near about 8905-9128. 

Following next resistances are lying above 9128;-

1- 9254-9403
2- 9430-9584

Until Nifty will not sustain above 9584 till then decisive up moves will not be seen and once sustaining below 8905 will mean more than 5% sharp fall.

Let market completely prepare for next decisive moves then will be updated according to intraday patterns formations and till then sustaining beyond 8905-9128 should also be watched because Coronavirus news led huge volatility may be seen any day and these levels will give first strong indication of next decisive moves. 

Levels will confirm next trend according to Coronavirus problem solution timings

Technical Analysis,Research & Weekly Outlook

(Apr 13 to Apr 17,2020)

Nifty-EOD Chart Analysis 

(Corrective Waves)

Nifty-EOD Chart 09-Apr-2020:-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 completion after new life time high formation at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves" beginning
2- Corrective Wave-A completion at 7511.10 on 24-03-2020 and Wave-B beginning
3- Wave-B continuation with recent top formation at 9131.70 on 08-04-2020
4- Last 17 Sessions sideways trading between 7512-9602 

Conclusions from EOD chart analysis 

(Corrective Waves)

Corrective Wave-B continuation with recent top formation at 9131.70 on 08-04-2020 and no confirmation of its completion yet, As last 17 Sessions sideways trading between 7512-9602 and Wave-B continuation within this range therefore firstly sustaining beyond this range should be watched in the coming week/weeks for the life of Wave-B confirmations.

Nifty

Last 17 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 16 to Apr 09,2020):-

Technical Patterns formation in last 17 Sessions intraday charts

1- Selling(Resistances) in last 17 sessions between
A- 9254-9403
B- 9430-9584
2- Consolidation(Supports) in last 14 sessions
A- 8654-8750
B- 8361-8449
C- 8056-8107
D- 7512-7970
3- Mixed Patterns formation between 8905-9128 on 09-04-2020 
4- 17 Sessions actual trading between 7512-9602  

Conclusions from 17 Sessions intra day chart analysis 

Sideways trading between 7512-9602 for the last 17 sessions with above mentioned higher levels 2 resistances and lower levels 4 supports therefore Nifty will firstly trade and prepare for next decisive moves within this range,finally sustaining beyond this range will confirm next big moves which should be watched in the coming week/weeks.

As Whole day trading with Mixed Patterns formation between 8905-9128 on 09-04-2020 and this range is within above mentioned supports and resistances therefore firstly sustaining beyond this range should be watched in next week for first signal of next decisive moves beginning. 

Nifty-Intra Day Chart Analysis 

(09-Apr-2020)

Nifty-Intra Day Chart (09-Apr-2020):-

Technical Patterns formation in today intraday charts
1- Selling between 8980-9025
2- Support between 8905-8960
3- Up moves in Bearish Rising Channel
4- Down moves in Bullish Falling Channel
5- Support between 9001-9055
6- Sharp up in last hour
7- Whole day actual trading between 8905-9128

Conclusions from intra day chart analysis 

Although 04.15% positive closing after gap up strong opening but only consolidation patterns were not seen and selling patterns were also seen on 09-04-2020 therefore expected that Nifty will firstly trade and prepare for next one sided decisive within and near about last Thursday trading range(8905-9128) and finally sustaining it beyond should be watched in the beginning of next week for confirmations.

Conclusions (After Putting All Studies Together)

1- Long term trend is down.
2- Intermediate term trend is down.
3- Short term trend has turned up after more than 1500 points recovery from lower levels in previous week.

Impulsive Wave-B of "corrective ABC Waves" continuation and no indication of its completion yet. As last 17 Sessions sideways trading between 7512-9602 with higher levels seling and lower levels consolidation therefore at present Nifty is not prepared for any side big decisive moves hence Nifty will firstly trade and prepare for it within this range and finally sustaining beyond this range will decide the life of Wave-B.

As Short Term Indicators have turned overbought after last weeks strong up moves therefore Short Term correction may be seen any day in next week but next trend will be decided by sustaining beyond last 17 Sessions trading range(7512-9602) hence it should be watched in the coming week/weeks/months because final moves will be according to Coronavirus problem solution timings only.

Levels will confirm next decisive moves

Intra Day Chart Analysis & Market Outlook

(09-04-2020)

Nifty-Intra Day Chart (08-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 9014-9131(Immediate Resistances)
2- Last 3 hours trading with Mixed Patterns formation between 8654-8920
3- Whole day actual trading between 8654-9131

Conclusions from intra day chart analysis 

As yesterday up moves were with intraday corrections therefore firstly up moves were seen towards next resistances today but selling developed at higher levels hence slipped and today closing was below yesterday given first resistances(8846-9038) 

Although today closing was near the lower levels of the day but last 3 hours trading was with Mixed Patterns formation between 8654-8920 therefore firstly sustaining beyond this range should be watched tomorrow for next decisive moves confirmations.

As multiple resistances are lying above 8920 therefore up may be slow because fresh consolidation is required for sustained up moves but sustaining below or forceful break down of 8654 will mean sharp down moves hence remain cautious.

Firstly watch next resistances for the life of today started Pull Back Rally

Intra Day Chart Analysis & Market Outlook

(08-04-2020)

Nifty-Intra Day Chart (07-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections
2- Whole day actual trading between 8361-8819

Conclusions from intra day chart analysis 

As all the Global markets closed strong yesterday therefore more than 4% positive opening of Indian markets today and whole day Pull Back Rally remained continued because all the Global markets were strong today and Dow Jones's Futures was also trading more than 600 points up at the time of Indian markets closing.

Whole day up moves of today were with downward corrections therefore today trading will be understood with consolidation and up moves towards following next resistances will be considered:-

1- 8846-9038
2- 9254-9403
3- 9430-9584

As all the Indian markets moves are Corona news led and reactions of Global markets moves therefore firstly sustaining beyond above mentioned next resistances should be watched in the coming sessions for the life of today started Pull Back Rally.

Strong support range will confirm next more than 5% moves amid more down moves possibilities

Technical Analysis,Research & Weekly Outlook

(Apr 07 to Apr 09,2020)

Nifty-EOD Chart Analysis

 (Waves structure)

Nifty-EOD Chart (03-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11171.50 on 29-01-2018 and corrective Wave-4 beginning
5- Corrective Wave-4 completion at 9951.90 on 23-03-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 completion after new life time high formation at 12430.50 on 20-01-2020 and Wave-A of "corrective ABC Waves"  beginning
7- Corrective Wave-A continuation with recent bottom formation at 7511.10 on 24-03-2020
8- Indications of Wave-A completion and Wave-B beginning after last 14 Sessions sideways trading between 7512-9602 with rock bottom supports formation between 7512-7970.

Conclusions from EOD chart analysis

(Waves structure)

4 Years rally which started from 6825.80 on 29-02-2016 completed at 12430.50 on 20-01-2020 after 5 waves completion. Now its corrective Wave-A of'ABC" Correction continuation with recent bottom formation at 7511.10 on 24-03-2020. 

As last 14 Sessions sideways trading between 7512-9602 with rock bottom supports formation between 7512-7970 therefore indications of Wave-B beginning from 7511.10 on 24-03-2020. 

Nifty-EOD Chart Analysis 

(Averages)

Nifty-EOD Chart (03-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- 5-Day SMA is at 8375 
2- 13-Day SMA is at 8360
3- 55-Day SMA is at 10889
4- 200-Day SMA is at 11408

Conclusions from EOD chart analysis 

(Averages)

Although 5-Day SMA has moved above 13-Day SMA but last Friday closing was much below both Short Term averages therefore fresh decisive up moves can not be considered because Intermediate and Long Term averages are much above both these Short Term averages.

Nifty-Last 14 Sessions intraday charts analysis

Nifty-Intra Day Chart (Mar 16 to Apr 03,2020):-

Just click on chart for its enlarged view

Technical Patterns formation in last 14 Sessions intraday charts

1- Selling(Resistances) in last 14 sessions between
A- 9254-9403
B- 9430-9584
C- 8846-9038
D- 8772-8883
E- 8760-8873
F- 8663-8733
G- 8465-8660
2- Consolidation(Supports) in last 14 sessions between 
A- 8056-8107
B- 7833-8024 
C- 7512-7970
3- 14 Sessions actual trading between 7512-9602 

Conclusions from 14 Sessions intra day chart analysis 

Last 14 sessions sideways trading between 7512-9602 with above mentioned higher levels 7 resistances and lower levels 3 supports therefore Nifty will firstly trade and prepare for next decisive moves within this range,finally sustaining beyond this range will confirm next big moves which should be watched in the coming week/weeks.

Although rock bottom support developed between 7512-7970 but higher levels follow up selling was also seen in previous week therefore expected that nifty will test this support range in next week and finally sustaining beyond this support range will confirm next more than 5% moves.

Nifty-Intra Day Chart Analysis 

(03-Apr-2020)

Nifty-Intra Day Chart (03-Apr-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts


1- Down moves in Bullish Falling Channels
2- Selling between 8100-8160
3- Selling between 8184-8222
4- More than 200 points sharp fall
5- Support between 8056-8107
6- Whole day actual trading between 8056-8222

Conclusions from intra day chart analysis 

Although firstly some buying through Down moves in Bullish Falling Channels but after that selling was seen between 8184-8222 and 8056-8107 therefore more than 200 points sharp fall and day's closing was near the lower levels of the day. 

As some intraday supports in last hour between 8056-8107 therefore firstly sustaining it beyond should be watched in the beginning of next week and remain cautious also because sharp fall will be seen after sustaining below 8056.

Conclusions

 (After Putting All Studies Together)

1- Long term trend is down.
2- Intermediate term trend is down.
3- Short term trend is down but indication of its turning up after last 14 Sessions sideways trading between 7512-9602 with rock bottom supports formation between 7512-7970.

All the Global markets have crashed after Corona pandemic eruption in almost whole world and no indication of its stopping yet and on the other hand its spreading fear has loomed large. Although Corona situation was too much under control in India but situation worsened too much after  detection of more than 600 Corona affected cases from Nizamuddin Markaz Jamaat in last 4 days and until whole situation will not come under control completely till then decisive up moves will not be seen and correction continuation possibilities will remain alive.

Last 14 Sessions trading between 7512-9602 and Nifty will firstly trade within this range in next week. As strong supports are lying between 7512-7970 therefore Nifty will firstly trade within and near about this range but will not be able to move up easily because above mentioned 7 resistances are lying above last Friday closing(8083.80).    

As too much fear spread after more than 600 Corona affected cases coming from Nizamuddin Markaz Jamaat in last 4 days therefore decisive up moves will not be seen until picture will not be clear and possibilities of more down moves will remain alive as well as finally sustaining beyond strong support range(7512-7970) should be watched in next week because will confirm next more than 5% moves.