Trading range will confirm next one sided big moves amid deeper correction possibility

Technical Analysis,Research & Weekly Outlook

(Jun 28 to Jul 02,2021)

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (25-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 15901.60 on 15-06-2021

2- Stochastic %K(5) is at 73.43 & %D(3) is at 68.11

3-  Stochastic- %K(5) line has intersected %D(3) line upward and both lines are rising towards Overbought zone

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

5- MACD is showing negative divergence

6- Up moves in Bearish Rising channel for the last 27 sessions from 20-05-2021

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic %K(5) line has intersected %D(3) line upward and both lines rising towards Overbought zone therefore some up moves can not be ruled out in the beginning of next week.

As MACD line  has intersected Average line downward and both lines are falling in positive zone as well as MACD is showing negative divergence therefore emergence of decisive down moves expectations in the coming week/weeks.

As up moves in Bearish Rising channel for the last 27 sessions from 20-05-2021 and its forceful break down/sustaining below of rising lower line will be deeper correction confirmation therefore remain cautious in the coming week/weeks despite without force new life time high formations possibilities.

Nifty-EOD Chart Analysis

(Bollinger Band)

Nifty-EOD Chart (25-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Bollinger Band squeezed

2- Last 19 sessions sideways trading between 15451-15901

Conclusions from EOD chart analysis

(Bollinger Band)

As Nifty is trading within 450 points for the last 19 sessions between 15451-15901 and volatility has fallen to lower levels therefore Bollinger Bands has narrowed and its Squeeze occurred. It has been observed that periods of lower volatility are often followed by periods of higher volatility therefore A new advance starts after break out above upper band or a new decline starts after break down below lower band.

Bollinger Band is showing that fresh one sided big moves are on cards and its confirmation will be break out/down of its upper/lower bands therefore it should be firstly watched in the coming week/weeks for these one sided big moves confirmations. 

As last 19 sessions sideways trading between 15451-15901 and last corner points of both lower and higher bands are lying within this range therefore finally sustaining beyond this range will also confirm these one sided big moves

Nifty-Intra Day Chart Analysis

(25-Jun-2021)

Nifty-Intra Day Chart (25-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Consolidation between 15773-15807(immediate supports)

3- Up moves in Bearish Rising Channel

4- Last hour sideways trading between 15804-15870

5- Whole day actual trading between 15773-15870

Conclusions from intra day chart analysis 

Although firstly down moves after positive opening but were in Bullish Falling Channel and fresh consolidation therefore up moves were seen. As these Up moves were in Bearish Rising Channel therefore rally stopped and turned into sideways trading in last hour between 15804-15870. 

As both lower levels buying and some selling in Mid-session as well as sideways trading in last hour therefore last Friday trading will be understood with Mixed Patterns formation between 15773-15870.  

Expected that Nifty will firstly trade and prepare for next decisive moves within or near about last Friday trading range in the beginning of next week and finally sustaining it beyond will form next Short Term Trend therefore should be firstly watched in the coming sessions.

Conclusions

(After Putting All Studies Together)

All trends are up and Bullish rally continuation with 2nd highest closing last Friday which is only 8 points below previous life time highest closing. 

Although trend decider MACD is showing downward trend and down moves beginning possibilities also because negative divergence has also developed in this indicator but Short Term indicator Stochastic is telling for immediate up moves possibilities which may also be seen in the beginning of next week because clear consolidation patterns were seen in last Friday intraday charts and clear selling patterns were not seen in it. 

As squeezed Bollinger Band is suggesting that one sided big moves may start toward the direction of its upper/lower Bands break out but remain cautious because up moves in Bearish Rising channel are been seen for the last 27 sessions from 20-05-2021 and its rising lower line break down will generate deeper correction. 

Importance of last 19 sessions sideways trading range(15451-15901) has been increased because squeezed Bollinger Band formation is also lying within this range and sustaining beyond this range will be  Bollinger Bands break out/down confirmation also therefore should be firstly watched in the coming week/weeks for the next one sided big moves confirmations amid deeper correction possibility after last 27 sessions Up moves in Bearish Rising channel.

 15821 will confirm rally 

towards next resistances

Nifty-Intra Day Chart Analysis & 

Market Outlook(25-06-2021)

Nifty-Intra Day Chart (24-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Consolidation between 15720-15761(immediate supports)

2- Up moves with downward corrections

3- Volatility in last hour

4- Whole day actual trading between 15703-15821

Conclusions from intra day chart analysis 

As higher levels selling in last 2 sessions therefore firstly sideways consolidation after positive opening and after that follow up consolidation through Up moves with downward corrections. Last hour was highly volatile and technical positions changes also during such volatility as well as selling lying above today highest therefore sustaining above today highest should be only watched tomorrow for up moves continuation towards next resistances(15873-15894)

15674 will confirm correction 

towards next supports

Nifty-Intra Day Chart Analysis & 

Market Outlook(24-06-2021)

Nifty-Intra Day Chart (23-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15781-15820

2- Selling between 15732-15783

3- Minor supports in last hour between 15674-15707

4- Whole day actual trading between 15674-15862

Conclusions from intra day chart analysis 

Following 3 resistances were posted on 19-06-2021 in "Crucial level will confirm next trend":-

A- 15716-15744(Strong resistances)

B- 15770-15835 

C- 15873-15894

Nifty hovered around above 3 resistances in last 2 sessions and closed below it at 15686.95 today after fresh selling in both previous sessions therefore these 3 resistances have been strengthened and until complete consolidation will not develop till then Nifty will not sustain above 15900.

As minor supports were seen in last hour between 15674-15707 therefore only sustaining below it should be watched tomorrow for correction continuation towards following next supports:-

A- 15618-15647

B- 15542-15586

C- 15460-15537(Strong supports)

 As busy therefore Stock Market Outlook of today(23-06-2021) is not being updated.

Rally continuation towards  

next resistance

Nifty-Intra Day Chart Analysis & 

Market Outlook(22-06-2021)

Nifty-Intra Day Chart (21-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 15506-15765

Conclusions from intra day chart analysis 

Following resistances were posted on 19-06-2021 in "Crucial level will confirm next trend":-

A- 15716-15744(Strong resistances)

B- 15770-15835 

C- 15873-15894

As whole day up moves with downward corrections and selling patterns were not seen as well as today closing was above 1st resistance therefore rally continuation will be seen towards above mentioned next 2nd resistance.

 Crucial level will confirm next trend

Technical Analysis,Research & Weekly 

Outlook(Jun 21 to Jun 25,2021)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (18-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

2- Impulsive Wave-1 completion at 11794.30 on 31-08-2020

3- Corrective Wave-2 completion at 10790.20 on 24-09-2020

4- Impulsive Wave-3 completion after new life time top formation at 15431.8 on 16-02-2021

5- Corrective Wave-4 completion at 14151.4 on 22-04-2021

6- Impulsive Wave-5 continuation with recent high and new life time top formation at 15901.60 on 15-06-2021

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-5 continuation with new life time top formation at 15901.60 on 15-06-2021 and no indication of its completion yet on EOD charts therefore it will remain continued in the coming weeks/months

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (18-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 15901.60 on 15-06-2021

2- Stochastic %K(5) is at 44.97 & %D(3) is at 60.52

3-  Stochastic- %K(5) line has intersected %D(3) line downward and both lines falling from Overbought zone

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

5- Last 14 sessions sideways trading between 15451-15901

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

As in Stochastic %K(5) line has intersected %D(3) line downward and both lines falling from Overbought zone therefore expected that Short Term correction will remain continued in next week

As MACD line  has intersected Average line downward and both lines are falling in positive zone therefore confirmation of downward trend formation and emergence of down moves expectations in next week.

Last 14 sessions sideways trading between 15451-15901 and finally sustaining beyond or forceful break out of this range will confirm next big moves which should be firstly watched in the coming week/weeks.

Nifty-Last 14 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Jun 01 to Jun 18,2021):-

Technical Patterns formation in last 14 Sessions intraday charts

1- Selling(Resistances) in last 14 Sessions  are as follows:-

A- 15716-15744(Strong resistances)

B- 15770-15835 

C- 15873-15894

2- Consolidation(Supports) in last 14 Sessions are as follows:-

A- 15618-15647

B- 15542-15586

C- 15460-15537(Strong supports)

3- Last 14 sessions sideways trading between 15451-15901

Conclusions from 14 Sessions

intra day chart analysis 

Nifty closed at 15683.35 on 18-06-2021 and above mentioned equally strong Supports/Resistances are lying just above and below it therefore Nifty will firstly trade and prepare for next trend within last 14 sessions trading range in the beginning of next week. 

As finally sustaining beyond or forceful break out of 15451-15901 will form next trend therefore should be firstly watched in next week for its confirmations.

Conclusions (After Putting All Studies Together)

1- Long Term Trend is up

2- Intermediate Term Trend is up

3- Short Term Trend is sideways between 15451-15901 for the last 14 sessions 

Impulsive Wave-5 continuation with new life time top formation and no indication of its completion yet on EOD charts but Short Term indicators are suggesting that Short Term correction is on cards and that may be seen in next week/weeks. 

Although strong resistances are lying above last Friday closing but equally strong supports have also been developed below it in the last 14 sessions therefore Nifty will firstly trade above last 14 sessions lowest(15451) and prepare for next trend in next week. 

As follow up moves and finally sustaining beyond 15451 will form next trend therefore it has become crucial level for next trend confirmations hence should be firstly watched in next week amid firstly down moves expectations towards or below it.

Just watch levels after high intraday volatility

Nifty-Intra Day Chart Analysis & 

Market Outlook(18-06-2021)

Nifty-Intra Day Chart (17-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Whole day only volatility

2- Whole day actual trading between 15617-15769

Conclusions from intra day chart analysis 

As whole day only high volatility and as such any specific intraday position formation was not seen therefore firstly sustaining beyond 15612-15825 should be watched in the coming sessions for next Short term trend confirmations because technical positions reverses also during such high today like volatility. 

Today lowest will confirm 

deeper correction

Nifty-Intra Day Chart Analysis & Market 

Outlook(17-06-2021)

Nifty-Intra Day Chart (16-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour

2- Down moves in Bullish Falling Channel

3- Consolidation between 15773-15798

4- Up moves in Bearish Rising Channel

5- Sharp fall in last hour

6- Whole day actual trading between 15743-15880

Conclusions from intra day chart analysis 

As Down moves in Bullish Falling Channel after first hour volatility and more than one hour consolidation between 15773-15798 therefore more than 2 hours up moves were seen in Mid-session but these up moves in Bearish Rising Channel hence sharp fall in last hour.

Although today closing was near the lowest of the day but some consolidation was also seen today therefore sustaining below today lowest(15743) should be watched tmorrow for deeper correction confirmations.

 Levels will confirm next 

decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-06-2021)

Nifty-Intra Day Chart (15-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Whole day sideways trading

2- Higher levels selling

3- Lower levels some supports

4- Down moves in Bullish Falling Channels

5- Whole day actual trading between 15855-15901

Conclusions from intra day chart analysis 

Although whole day Green zone trading after gap up opening and closing also with 0.36% gains but both consolidation and selling patterns were seen within sideways trading range(15855-15901) today. 

As Mixed Patterns formation between 15855-15901 today therefore firstly Nifty will have to trade and prepare for next decisive moves within and near about today trading range as well as sustaining it beyond will confirm it hence should be firstly watched tomorrow.

 As busy therefore Stock Market Outlook of today(15-06-2021) is not being updated.

 Live Proofs of our 100% accurate projections on Indian Stock Markets

We posted following Weekly Analysis topic on 12-06-2021:- 

Short Term Correction with sharp fall possibility in next week

As was told 100% same happened today on 14-06-2021 that;- 

Nifty crashed 192 points in first 21 minutes today

For Indian markets weakness we told following lines in above topic:-

1- Short Term correction is on cards and will start any day in next week

2- firstly down moves are expected in the beginning of next week.

3- As above signals of Short Term Correction and seems stronger also therefore expectations of Short Term Correction with sharp fall possibility in next week

Just click folling above topic link and just see all our above 100% accurate projections:-

https://enjoydailyprofits.blogspot.com/2021/06/short-term-correction-with-sharp-fall.html

Above topic has been printed in Gujarati edition of Economic Revolution news paper also on current week;-

Who told in whole India except us for today correction with such high conviction

 Short Term Correction with sharp 

fall possibility in next week

Technical Analysis,Research & Weekly Outlook

(Jun 14 to Jun 18,2021)

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (11-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 15,835.50 on 11-06-2021

2- Stochastic %K(5) is at 62.99 & %D(3) is at 65.50

3-  Stochastic- %K(5) line has intersected %D(3) line downward and both lines falling from Overbought zone

4- Stochastic is showing negative divergence through moving down from Overbought zone when Nifty is moving up.

5- In MACD- MACD line is above Average line and turned flat while Average line is rising in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

Although MACD is still showing up trend through MACD line above Average line but momentum has slowed down because MACD line has turned flat therefore emergence of first signal of some down moves. 

As Stochastic is showing negative divergence and %K(5) line has intersected %D(3) line downward as well as its both lines falling therefore indicating that Short Term correction is on cards and will start any day in next week

Nifty-Last 7 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Jun 03 to Jun 11,2021):-

Technical Patterns formation in last 7 Sessions intraday charts

1- Selling(Resistances) in last 7 Sessions  are between 15770-15835

2- Consolidation(Supports) in last 7 Sessions are between 15618-15671

3- Many times trading with Mixed Patterns formation in last 7 Sessions 

4- 7 Sessions actual trading between 15557-15835 

Conclusions from 7 Sessions

intra day chart analysis 

Although life time highest formation and closing also at the life time top on 11-06-2021 but higher levels selling patterns were seen therefore previous resistances which are just below between 15770-15800 have been strengthened and once sustaining below 15770 will mean first strong signal Short Term correction beginning. 

Good supports of last 7 Sessions are between 15618-15671 and Mixed Patterns formation were seen between 15671-15770 therefore if follow up selling develops in the beginning of next week then sharp fall will be seen towards the support(15671) of last 7 sessions because lack of supports are above it.

Nifty-Intra Day Chart Analysis

(11-Jun-2021)

Nifty-Intra Day Chart (11-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 15807-15835

2- Up moves in Bearish Rising Channel

3- Selling between 15786-15812

4- Whole day actual trading between 15750-15835

Conclusions from intra day chart analysis 

Although whole day Green zone trading after positive opening and closing also with 0.39% gains on 11-06-2021 but only intraday selling patterns formations were seen therefore firstly down moves are expected in the beginning of next week.

Conclusions

(After Putting All Studies Together)

All trends are up and Indian markets are continuously forming new life time top but emergence of Short Term Correction following signals:-

1- Stochastic has shown multiple signals of correction.

2- MACD has started to show downward trend beginning signals

3- Doji Candle formation on EOD charts and higher levels selling patterns formations on 11-06-2021. 

4- Higher levels selling and below it Mixed Patterns formation in last 7 sessions.

As above signals of Short Term Correction and seems stronger also therefore expectations of Short Term Correction with sharp fall possibility in next week and and sustaining below 15618 will confirm deeper correction. 

 Levels will confirm the life 

and length of on going 

Short Term correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-06-2021)

Nifty-Intra Day Chart (10-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Ascending triangle formations after positive opening

2- First 4 hours upmoves with downward corrections

3- Last 2 hour slow up moves

4- Whole day actual trading between 15649-15751

Conclusions from intra day chart analysis 

Although whole day up moves with Ascending triangle formations and first 4 hours up moves were with downward corrections also as well as closing was near the higher levels of the day but seems some selling also in last 2 hours also because up moves were slow during this period.

Good selling was seen between 15770-15800 yesterday and this range is immediate resistance of Nifty as well as whole day today trading was below it therefore until Nifty will not sustain above 15800 after complete consolidation till then decisive up moves will not be seen. 

Fresh selling and sustaining below 15770 will mean correction towards and below 15567 because Nifty is being understood sideways between 15567-15800 for the last 6 sessions and this range will decide the life and length of on going Short Term correction.

Watch levels for deeper correction amid more down moves expectations 

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-06-2021)

Nifty-Intra Day Chart (09-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Up moves after flat opening

2- Selling between 15770-15800(immediate Resistances)

3- Sharp fall

4- Up moves in Bearish Rising Channel

5- Sharp fall

6- Up moves in last hour

7- Whole day actual trading between 15567-15800

Conclusions from intra day chart analysis 

Not only yesterday but for the last 5 sessions We were continuously telling for selling patterns formations for the last 5 sessions and Nifty slipped below last 5 sessions lowest within 18 minutes sharp fall in Mid-session today.

Anyone may see and confirm this fact from the previous sessions Outlooks on Home page of this Blog.

Although firstly up moves after flat opening but more than 3 hours good selling therefore sharp fall in Mid-sessions. As again selling hence again sharp fall with some Up moves in last hour .

Last 5 sessions lowest is at 15611 and once sustaining below it will mean deeper correction after last 5 sessions trading range breaking down confirmations which should be first watched tomorrow with more down moves expectations.

 Fresh selling tomorrow will mean 

than more than 2% correction 

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-06-2021)

Nifty-Intra Day Chart (08-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Up moves in Bearish Rising Channel

3- Whole day actual trading between 15680-15778

Conclusions from intra day chart analysis 

As both consolidation and selling was seen today therefore whole day today trading will be understood with Mixed Patterns formation hence firstly sustaining beyond today trading range should be watched for next decisive moves beginning confirmations.

Some selling patterns were seen yesterday also therefore if fresh selling develops tomorrow then more than 2% correction will be seen. 

 As busy therefore Stock Market Outlook of today(08-06-2021) is not being updated.

 Modi ji like person comes on this earth after millions of years

"Nifty above 50,000 

if Modi ji continue as 

Prime Minister of India till 2034"

For our greatest Prime Minister Shri Narendra Modi ji I told that 

'Shri Narendra Modi ji like person 

comes on this earth after millions of years"

In Financial Weekly News Paper"The Economic Revolution" I have written following lines under the heading of 

"Nifty above 50,000 if Modi ji continue 

as Prime Minister of India till 2034"

It is the confidence of Indian Stock markets on our greatest Prime Minister Shri Narendra Modi ji that Nifty gained 25% from last year despite 2 violent Corona Virus attacks on India. It means that if Shri Narendra Modi ji will continue as PM of India till 2034 then Nifty will be above 50,000 because Shri Narendra Modi ji like person comes on this earth after millions of years.

Nifty above 50,000 if Modi ji continue as Prime Minister of India till 2034

Technical Analysis,Research & Weekly 

Outlook(Jun 07 to Jun 11,2021)

Nifty-Weekly Chart Analysis

(Waves structure)

Nifty-Weekly Chart (04-Jun-2021):-

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 "ABC" correction beginning

2- Wave-A (11614.50 on 03-02-2020)

3- Wave-B (12246.70 on 14-02-2020)

4- Corrective Wave-C completion and Impulsive Wave-1 beginning from 7511.10 on 24-03-2020  

5- Impulsive Wave-1 completion at 11794.30 on 31-08-2020

6- Corrective Wave-2 completion at 10790.20 on 24-09-2020

7- Impulsive Wave-3 completion after new life time top formation at 15431.8 on 16-02-2021

8- Corrective Wave-4 completion at 14151.4 on 22-04-2021

9- Impulsive Wave-5 continuation with recent high and new life time top formation at 15,733.60 on 04-06-2021

10- Weekly white Candle formation at life time highest 

Conclusions from Weekly chart

analysis(Waves structure)

As Weekly white Candle formation at life time highest and no selling pattern formation on weekly charts therefore indications of on going impulsive Wave-5 continuation in the coming weeks and months. It should also be kept in mind that Short to Intermediate Term corrections are parts of Bullish rallies and those will also be seen time to time but rally will remain continued.

Nifty-EOD Chart Analysis

(MACD & Stochastic)

Nifty-EOD Chart (04-Jun-2021):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-5 continuation with recent high and new life time top formation at 15,733.60 on 04-06-2021

2- Stochastic %K(5) is at 85.38 & %D(3) is at 85.10

3- Stochastic- Stochastic- %K(5) line and %D(3) line are kissing Overbought zone

4- Stochastic is showing negative divergence in over bought zone through moving down when Nifty is moving up.

5- In MACD- MACD line is above Average line and its both lines are rising in positive zone.

 

Conclusions from EOD chart analysis

(Stochastic & MACD)

Although MACD is showing up trend through MACD line is above Average line and its both lines are rising in positive zone but Short Term indicator Stochastic is showing stronger indications of Short Term correction because;-

1- Both %K(5) line and %D(3) line are kissing Overbought zone

2- Stochastic is showing negative divergence in over bought zone

Therefore fresh selling patterns on intraday and EOD charts in the beginning of next week will mean 

Short Term correction will be seen in next week.

Nifty-Last 2 Sessions

intraday charts analysis

Nifty-Intra Day Chart (Jun 03 & Jun 04,2021):-

Technical Patterns formation in last 2 Sessions intraday charts

1- Selling at higher levels on 03-06-2021

2- Down moves in Bullish Falling Channel on 03-06-2021

3- Up moves with downward corrections on 03-06-2021 

4- Up moves in Bearish Rising Channel on 04-06-2021

5- Sharp fall on 04-06-2021

6- Up moves in Bearish Rising Channel on 04-06-2021

7- Down moves in Bullish Falling Channel on 04-06-2021

8- Up moves in Bearish Rising Channel on 04-06-2021 

9- 2 Sessions actual trading between 15611-15733 

Conclusions from 2 Sessions

intra day chart analysis 

As both consolidation and selling patterns formations in last 2 sessions and Nifty closed also in the middle of last 2 sessions trading range(15611-15733) therefore expected that Nifty will firstly trade and prepare for next decisive moves within it. Firstly sustaining it beyond should be watched in the beginning of next week for rally continuation above 15733 and first indication of Short Term correction beginning below 15611.

 

Conclusions

(After Putting All Studies Together)

It is the confidence of Indian Stock markets on our greatest Prime Minister Shri Narendra Modi ji that Nifty gained 25% from last year despite 2 violent Corona Virus attacks on India. It means that if Shri Narendra Modi ji will continue as PM of India till 2034 then Nifty will be above 50,000 because Shri Narendra Modi ji like person comes on this earth after millions of years.

All trends are up and strong rally continuation with new life time highest formations as well as no indication of its completion yet. 

As Short Term indicator Stochastic is showing Short Term correction signals and last 2 sessions intraday charts are also showing some intraday selling patterns formations therefore if more intraday selling develops in the beginning of next week then Short Term correction will be seen and its first indication will be sustaining below last 2 sessions lowest(15611) which should be firstly watched if correction starts in next week.   

 Firstly watch levels for next 

decisive moves confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-06-2021)

Nifty-Intra Day Chart (03-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Selling at higher levels

2- Down moves in Bullish Falling Channel

3- Up moves with downward corrections

4- Whole day actual trading between 15611-15705

Conclusions from intra day chart analysis 

Although strong opening but selling developed therefore down moves were seen. As these first 4 hours Down moves in Bullish Falling Channel and consolidation developed therefore up moves were seen in last 2 hours.

Last hours Up moves were with downward corrections but some selling was also seen in last half hour therefore whole day today trading will be understood with some selling at higher levels and lower levels good consolidation.

As both both intraday buying selling today therefore Nifty will firstly trade and prepare for next decisive moves within today trading range(15611-15705) and finally sustaining it beyond will be its confirmations hence should be firstly watched tomorrow.

Rally continuation

Nifty-Intra Day Chart Analysis & 

Market Outlook(03-06-2021)

Nifty-Intra Day Chart (02-Jun-2021):-

Technical Patterns formation in today intraday charts

1- More than 5 hours consolidation between 15460-15537(immediate supports)

2- Strong up moves in last hour

3- Whole day actual trading between 15460-15597

Conclusions from intra day chart analysis 

As some selling yesterday therefore Short Term correction was told and Nifty traded almost whole day in negative zone today but follow up selling was not seen. More than 5 hours consolidation between 15460-15537 today and it will be immediate supports hence rally will remain continued tomorrow and until complete selling will not develop till then Nifty will not sustain below today lowest(15460).

Today lowest will confirm for Short Term correction beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-06-2021)

Nifty-Intra Day Chart (01-Jun-2021):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour

2- 5 Hours sideways trading between 15529-15615

3- Whole day actual trading between 15529-15660

Conclusions from intra day chart analysis 

Following lines were told at 12:23 AM on 01-06-2021 in " Rally continuation amid 

Short Term correction possibility":-

1- rally continuation is expected

2- Short Term correction may be seen any day and its first signal will be sustaining below today highest after fresh selling near about it.

Although Nifty moved up 72 points after positive opening but not sustaining at higher levels and slipped fast hence first hour trading will be understood with volatility. 

As 5 Hours sideways trading between 15529-15615 and Nifty hovered around last Friday highest(15606) as well as some selling was seen within this range therefore sustaining below today lowest(15529) will mean Short Term correction beginning which should be firstly watched tomorrow for its confirmations.