Watch Crucial Levels for next Short Term Trend after previous week Global markets crashing

Technical Analysis,Research & Weekly Outlook

(Jun 26 to Jun 30,2023)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (23-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-[(i)] of Wave-1 completion at 18096.2 on 15-09-2022.

3- Corrective Wave-[(ii)] of Wave-1 completion at 16747.7 on 30-09-2022.

4- Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction begining.

5- Corrective Wave-A of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 17774.3 on 26-12-2022.

6- Corrective Wave-B of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 18265.3 on 30-12-2022.

7- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion strongest indications after its recent bottom formation at 16828.3 on 20-03-2023.

8- Pull Back Rally continuation with recent top formation at 18886.6 on 22-06-2023 which is only one point shorter than life time top at 18887.6.

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 15183.4 on 17-06-2022. Its  Impulsive Wave-[(i)] of Wave-1 completed at 18096.2 on 15-09-2022 and Corrective Wave-[(ii)] of Wave-1 started which completed at 16747.7 on 30-09-2022 and from this levels impulsive Wave-[(iii)] of Wave-1 begun.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction bugun which completed at 17774.3 on 26-12-2022. Wave-B begun from this level which completed at 18265.3 on 30-12-2022. Wave-C started from this levels and strongest signals of its completion at 16828.3 on 20-03-2023 because the Pull Back Rally which begun from this levels has completed almost whole corretion and remained only one point short at 18886.6 on 22-06-2023 from the top(18887.6) of Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 which is life time highest as well.  

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (23-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Pull Back Rally continuation with recent top formation at 18886.6 on 22-06-2023 which is only one point shorter than life time top at 18887.6.

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

3- Stochastic:- %K(5)- 48.50 & %D(3)- 62.56.

4- MACD- Its both lines are kissing in positive zone.

5- MACD(26,12)- 144.10 & EXP(9)- 160.84 & Divergence- -16.74

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- As in Short Term indicator Stochastic %K(5) line has intersected %D(3) line downward and its both lines have started to fall from Over bought zone therefore more down moves will be seen in the coming week. 

2- As both lines of MACD are kissing in positive zone therefore at present this indicator is not signalling any side clear trend. Its both lines are kissing for the last more than one month which means that one sided clear intersection will mean that side big move beginning. As its both lines are in positive zone therefore once up side intersection will mean fresh and strong rally beginning.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (23-Jun-2023):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 18773 

2- 21-Day SMA is today at 18659 

3- 55-Day SMA is today at 18255

4- 100-Day SMA is today at 17908

5- 200-Day SMA is today at 17929

Conclusions from EOD chart analysis

(Averages)

As Nifty is well above Intermediate Term Trend(55-Day SMA) and Long Term Trend(200-Day SMA) deciders therefore at present no risk of its turning down but Nifty moved below 5-Day and 21-Day SMA at 18647.1 last Friday during last 2 sessions correction therefore Short Term Trend is at stake. 

Although Nifty closed litle above 21-Day SMA at 18665.50 last Friday but sustaining below 21-Day SMA(18659) will mean Short Term Trend turning down confirmation which should be firstly watched in the beginning of next week.

Nifty-Last 8 Sessions 

intraday charts analysis

Nifty-Intra Day Chart (Jun 14 to Jun 23,2023):-

Technical Patterns formation in last 8 Sessions intraday charts

1- Last 8 sessions top formation at 18886.6 on 22-06-2023

2- Last 8 sessions bottom formation at 18647.10 on 23-06-2023

3- Selling(Resistances) in last 8 Sessions are as follows:-

A- 18843-18859 

B- 18849-18886  

4- Mixed Patterns formation

A- 18684-18741 

4- Last 8 Sessions actual trading between 18647.10-18886.6 

Conclusions from 8 Sessions

intra day chart analysis 

Last 8 Sessions actual trading between 18647.10-18886.6 in which previous 2 sessions were highly volatile because both 8 sessions highest and lowest were formed in these 2 sessions. 

As Nifty closed near the lower levels of last 8 sessions therefore sustaining beyond the lowest(18647.10) of last 8 sessions should be firstly watched in the beginning of next week for:-

1- Deeper correction beginning confirmations below it. 

2- First signal of fresh up moves beginning above it. 

As 5 Hours Mixed Patterns formation between 18684-18741 last Friday therefore finally sustaining above 18741 will confirm fresh up moves beginning hence should also be watched for its confirmations. 

Nifty-Intra Day Chart Analysis

(23-Jun-2023)

Nifty-Intra Day Chart (23-Jun-2023):-

Technical Patterns formation in today intraday charts

1- 124 Points down in first 30 minutes after weaker opening

2- 5 Hours Mixed Patterns formation between 18684-18741

3- 54 Points fall in last half hour

4- Whole day actual trading between 18648-18756

Conclusions from intra day chart analysis 

As all the Asian markets were weaker and Dow Jones Futures was also trading in Red therefore sentiment turned dampened last friday morning hence Nifty moved down 124 points down in first 30 minutes after weaker opening. Although after this intraday up moves were seen but Mixed Patterns formation were seen in next 5 hours therefore Nifty fallen 54 Points in last half hour and last Friday closing was near the lower levels of the day because sentiment was too much depresed in last hour due to negative zone trading of all European markets. 

Although last Friday closing was near the lower levels of the day after loosing 0.56% points but these down moves were due to most depressing Global markets and 5 Hours trading was with Mixed Patterns formations also which means that complete selling patterns were not seen therefore firstly sustaining beyond last Friday lowest(18648) should be watched in the beginning of next week for the confirmations of next decisive moves beginning.

Conclusions

(After putting all studies together)

1- Short Term Trend is at stake which will get confirmation after sustaining beyond its decider 21-Day SMA(today at 18659).

2- Intermediate Term Trend is up.

3- Long Term Trend is up.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completed at 18887.6 on 01-12-2022 and after this "ABC" correction begun. Strongest signals of its Wave-C completion has been developed at 16828.3 on 20-03-2023 because the Pull Back Rally which started from this level has completed almost whole correction after its highest formation at 18886.6 on 22-06-2023 which was only one point shorter than the highest((18887.6)) of Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 and it was life time top as well.  

As most Global markets remained in crshing mode during last 2 sessions therefore Nifty missed new life time top formations only by 1 points which was above 18887.6 and slipped 239 points in last 2 sessions after highest formations only 1 point below it at 18886.6 on 22-06-2023. 

Although MACD indicator is not suggesting any side trend but Stochastic indicator is showing signals of more Short Term down moves which may be seen in next week therefore firstly sustaining beyond following "Crucial Levels" should be watched in the coming week for next Short Term Trend formation confirmations:- 

1- 21-Day SMA which is today at 18659

2- Last 8 sessions lowest at 18647.10 

 

Next resistances above last 8 sessions lowest(18647.10) have been updated above and next supports below it are as follows:- 

1- 18532-18565

2- 18479-18516

3- 18419-18445

4- 18373-18397

5- 18325-18353

6- 18203-18261

7- 18059-18127

Firstly watch Levels after depressing

 Global markets

Pre-open Outlook(23-06-2023)

All the Asian markets are trading now in deep Red in following manner:-

1- Nikkei 225- 1.32% down

2- Hang Seng- 1.55% down

3- SET- 0.84% down

4- KOSPI 225- 0.75% down

(Chinese and Taiwan markets are closed today)

As Dow Jones Futures is also trading 92 points down at this moment therefore sentiment has turned dampened today morning and resultant down moves after negative opening in Indian markets can not be ruled out. 

Lower levels good consolidation was seen yesterday therefore firstly sustaining beyond yesterday lowest(18760) should be firstly watched today and if correction continues through Nifty sustaining below it then following supports should be watached one by one for correction continuation/completion confirmations:-

1- 18712-18728

2- 18661-18689

Watch today highest amid 

up moves expectations 

Nifty-Intra Day Chart Analysis & 

Market Outlook(23-06-2023)

Nifty-Intra Day Chart (22-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after flat opening

2- Selling between 18849-18886

3- Down moves

4- Down moves in Bullish Falling Channel

5- Sharp up 

6- Selling between 18843-18859

7- Sharp down

8- Down moves in Bullish Falling Channel

9- Whole day actual trading between 18760-18886

Conclusions from intra day chart analysis 

Although firstly up moves after flat opening but missed crossing of life time high(18887.6) by only 1 point and moved down after making today highest at(18886.6) due tor good selling between 18849-18886. As some consolidation through Down moves in Bullish Falling Channel therefore sharp up moves were seen after that but again selling developed hence again shalp fall was seen.

As lower levels consolidation was seen in last 45 minutes through Down moves in Bullish Falling Channel therefore up moves are expected towards today highest and finally sustaining it beyond should be watched tomorrow for next Trend confirmations.

18795-18875 will confirm 

next decisive intraday moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(01-06-2023)

Nifty-Intra Day Chart (01-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after positive opening

2- Selling between 18842-18875

3- Consolidation between 18795-18828

4- Selling between 18847-18868

5- Whole day actual trading between 18795-18875

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but higher levels selling developed therefore down moves were seen and Nifty traded in negative zone also. As lower levels good consolidation therefore up moves started but again selling was seen in last hours.

As both lower levels consolidation and higher levels selling therefore finally sustaining beyond today trading range(18795-18875) will confirm next decisive intraday moves.

New top of Nifty in this week

Nifty-Intra Day Chart Analysis & 

Market Outlook(21-06-2023)

Nifty-Intra Day Chart (20-Jun-2023):-

Technical Patterns formation in today intraday charts

1- 82 Points sharp fall in first 20 minutes after flat opening

2- Up moves with downward corrections

3- Sharp up in last half hour

4- Whole day actual trading between 18661-18839

Conclusions from intra day chart analysis 

Although Nifty opened flat but 82 points sharp fall was seen in first 20 minutes because all the Asian markets were trading in Red and some were more than 1% down as well as Dow Jones Futures was trading more than 125 points down. 

Indian markets out performed all the Global markets today because Global markets remained depressed most of the time today but the up moves which started from lower levels after 10:30 PM remained continued till last minutes and Nifty closed 61 points up after 178 points recovery frpm lower levels in last 5 hours.

As good intraday consolidation today through Up moves with downward corrections and Indian markets completely ignored Global markets weakness therefore expected that up moves above life time highest(18887.6) and new top of Nifty will be seen in this week because no significant resistance above today closing.

18719-18795 will confirm next

 Short Term trend 

Nifty-Intra Day Chart Analysis & 

Market Outlook(20-06-2023)

Nifty-Intra Day Chart (19-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Down moves after positive opening

2- Mixed Patterns formation between 18762-18795 

3- Support between 18719-18745

4- Mixed Patterns formation between 18747-18785

5- Whole day actual trading between 18719-18881

Conclusions from intra day chart analysis 

Although all the Asian markets were trading in Red and some markets were more than 1% down as well as Dow Jones Futures was trading in negative zone but Nifty opened in Green and firstly traded 55 points up also because good intraday consolidation was seen at lower levels levels last Friday.

As all the European markets also opened and traded in Red and resultant whole day sentiment remained Bearish today therefore selling developed in Indian markets also and down moves started which remained continued till 01:30 PM.

Lower levels supports above 18719 and more than 3 hours Mixed Patterns formation between 18747-18795 today therefore expected that Nifty will firstly traded prepare for next Short Term trend between and near about 18719-18795 as well as finally sustaining beyond this range will confirm it hence should be firstly watched tomorrow for its confirmations.

Fresh Rally beginning above Life Time Highest

Technical Analysis,Research & Weekly 

Outlook(Jun 19 to Jun 23,2023)

Nifty-EOD Chart Analysis

(Corrective Waves)

Nifty-EOD Chart (16-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction begining.

2- Corrective Wave-A of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 17774.3 on 26-12-2022.

3- Corrective Wave-B of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 18265.3 on 30-12-2022.

4- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion strong indications after its recent bottom formation at 16828.3 on 20-03-2023.

5- Pull Back Rally continuation with recent top formation at 18864.70 on 16-06-2023. 

Conclusions from EOD chart analysis

(Corrective Waves)

Corrective Wave-A of "ABC" correction started after impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022. Its Wave-A completed at 17774.3 on 26-12-2022 and from this level Wave-B begun which completed at 18265.3 on 30-12-2022. Wave-C begun from this level which showed strong indications of its completion at its bottom at 16828.3 on 20-03-2023 because the Pull Back Rally which begun from this level:-

1- It has cleared all the resistances.

2- Its recent highest at 18864.70 on 16-06-2023 remained only 22.9 points shorter than Life Time Highest.

Expected that bottom(16828.3 on 20-03-2023) of on going strong Pull Back Rally will finally prove the bottom of Corrective Wave-(ii) of Wave-[(iii)] of Wave-1 and also the bottom of Impulsive Wave-(iii) of Wave-[(iii)] of Wave-1 which is in continuation with recent top formations at 18864.70 on 16-06-2023.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (16-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion strong indications after its recent bottom formation at 16828.3 on 20-03-2023.

2- Pull Back Rally continuation with recent top formation at 18864.70 on 16-06-2023. 

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

4- Stochastic:- %K(5)- 77.67 & %D(3)- 71.30.

5- MACD- Is both lines are kissing in positive zone.

6- MACD(26,12)- 176.35 & EXP(9)- 171.33 & Divergence- 05.02

7- MACD is showing negative/positive divergence

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- As in Short Term indicator Stochastic %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over bought zone and have not turned Over bought yet therefore some more up moves will be seen in the coming week. 

2- As both lines of MACD are kissing in positive zone therefore at present this indicator is not indicating any side clear trend. Its both lines are in positive zone and for the last more than one month its both lines are in kissing mode therefore once upside clear intersection will mean strong fresh and strong rally beginning.

Nifty-Intra Day Chart Analysis

(16-Jun-2023)

Nifty-Intra Day Chart (16-Jun-2023):-

Technical Patterns formation in today intraday charts

1- More than 5 hourd consolidation between 18738-18781

2- More than 100 points sharp jump

3- Mild intraday correction in last half hour

4- Whole day actual trading between 18711-18864

Conclusions from intra day chart analysis 

As firstly more than 5 hours consolidation after positive opening therefore more than 100 points sharp jump was seen after that in Mid-sessions. Mild intraday correction in last half hour which means that correction of more than 100 points sharp jump has been completed through it and resultant rally continuation above life time highest will be seen in the beginning of next week.

Conclusions

(After putting all studies together)

1- Short Term Trend is up.

2- Intermediate Term Trend is up.

3- Long Term Trend is up.

New Waves structure started from 15183.4 on 17-06-2022 after corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 of this new Waves structure completed at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction started.Its corrective Wave-C completion strongest indications have emerged at 16828.3 on 20-03-2023 because the Pull Back Rally which started from this level had gained 2036.4(98.885) points and remained only 22.9 points shorter from the top of  Impulsive Wave-(i) of Wave-[(iii)] of Wave-1. 

As no indication of on going Pull Back Rally completion yet on EOD and Intraday charts therefore expected that its upward journey will remain continued above the top of Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 and will confirm completion of Corrective Wave-(ii) of Wave-[(iii)] of Wave-1 at 16828.3 on 20-03-2023 as well as Impulsive Wave-(iii) of Wave-[(iii)] of Wave-1 beginning from this level. 

Short Term indicator Stochastic is showing more up moves possibilities and intraday charts of last Friday has shown good intraday consolidation also therefore expected that on going Pull Back rally will remain continued above life time highest(18887.6) in the beginning of next week and will finally emerge as Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 of that on going Waves structure which begun from 15183.4 on 17-06-2022.

Firstly up move & finally sideways 

trading within today trading range

Nifty-Intra Day Chart Analysis & 

Market Outlook(16-06-2023)

Nifty-Intra Day Chart (15-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after positive opening

2- Selling between 187965-18794

3- Mixed Patterns formation in Mid-Session between 18715-18756

4- Support between 18670-18703

5- Whole day actual trading between 18670-18794

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but higher levels good selling developed therefore down moves started which remained continued till last haour. As firstly mixed Patterns formation in Mid-Session and lower levels uspports also in last hour therefore firstly up move will be seen towards today highest(18794) and finally sideways trading is expected within today trading range(18670-18794) tomorrow.

 As out of station therefore unable to update today(15-06-2023) Outlook. 

 Firstly watch sustaining beyond today 

highest for next decisive moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(14-06-2023)

Nifty-Intra Day Chart (13-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after positive opening.

2- Selling between 18692-18716

3- Sharp fall

4- Up moves in Bearish Rising Channel

5- Whole day actual trading between 18632-18728

Conclusions from intra day chart analysis 

As all the Asian were trading in Green and sentiment turned positive therefore firstly up moves were seen after positive opening of Indian markets. Although up moves remained continued till last minutes and today closing was at the higher levels of the day after 114 points gains but intraday selling pattren were seen therefore until Nifty will not sustain above today highet after complete fresh consolidation till then decisive up moves will not be seen. 

As today closing was near the higher levels of the day therefore firstly sustaining above today highest(18728.90) should be watched tomorrow for next decisive up moves beginning confirmations and remain cautious also because fresh selling tomorrow will sharp down moves below today lowest(18631.80).

Sustaining beyond 18559-18633 will 

confirm next decisve moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(13-06-2023)

Nifty-Intra Day Chart (12-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Whole day sideways trading between 18559-18624

3- Whole day actual trading between 18559-18633

Conclusions from intra day chart analysis 

Following lines were told on 10-00-2023 in "Levels will confirm strong rally above life time highest or correction towards next supports":-

firstly up moves and after that sideways trading is expected within last Friday trading range(18556-18676) in the beginning on next week.

As was told 100% same happened today and:-

1- Nifty traded almost whole day in Greeen after 31 points positive opening today,

2- Nifty traded whole day today within above mentioned mentioned range(18556-18676) between 18559-18633 today.

As Whole day sideways trading between 18559-18624 and one sided clear intraday trading patterrns were not seen therefore firstly sustaining beyond today trading range should be watched tomorrow for next decisve moves beginning confimations.

Levels will confirm strong rally above 

life time highest or correction 

towards next supports

Technical Analysis,Research & Weekly Outlook

(Jun 12 to Jun 16,2023)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (09-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of "ABC correction" completion at 15183.4 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-[(i)] of Wave-1 completion at 18096.2 on 15-09-2022.

3- Corrective Wave-[(ii)] of Wave-1 completion at 16747.7 on 30-09-2022.

4- Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction begining.

5- Corrective Wave-A of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 17774.3 on 26-12-2022.

6- Corrective Wave-B of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 18265.3 on 30-12-2022.

7- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion strong indications after its recent bottom formation at 16828.3 on 20-03-2023.

8- Pull Back Rally continuation with recent top formation at 18777.90 on 08-06-2023.

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.4 on 17-06-2022 and from this level Impulsive Wave-1 of new Waves structure begun. Impulsive Wave-[(i)] of Wave-1 completed at 18096.2 on 15-09-2022 and Corrective Wave-[(ii)] of Wave-1 started which completed at 16747.7 on 30-09-2022 and from this levels impulsive Wave-[(iii)] of Wave-1 begun.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completed at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction started. Now its corrective Wave-C is in continuation with recent bottom formation at 16828.3 on 20-03-2023 but strongest indications of its completion emerged at this levels because:- 

1- Nifty has surged 1949.6 points(11.58%) from lowest levels of corrective Wave-C. 

2- Nifty remained only 109.7 shorter of Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 top(18887.6) which is also Nifty life time highest.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (09-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Last 10 Sessions trading between 18465-18777

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

3- Stochastic:- %K(5)- 53.49 & %D(3)- 69.10.

4- Stochastic is showing negative divergence

5- MACD- Its both lines are kissing in positive zone.

6- MACD(26,12)- 170.22 & EXP(9)- 158.03 & Divergence- 12.19

7- MACD is showing negative divergence

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- As in Short Term indicator Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone as well as this indicator is showing negative divergence therefore showing more down moves possibilities in next week. 

2- As both lines of MACD are kissing in positive zone and this indicator is showing negative divergence also therefore at present this indicator is not showing any side direction but if downward intersection get confirmations then deeper correction will be seen after Downward Trend formation confirmations. 

Nifty-Last 10 Sessions

intraday charts analysis

Nifty-Intra Day Chart (May 29 to Jun 09,2023):-

Technical Patterns formation in last 10 Sessions intraday charts

1- Selling(Resistances) in last 10 Sessions are as follows:-

A- 18608-18665

B- 18679-18738

C- 18761-18777

2- Consolidation(Supports) in last 10 Sessions are as follows:-

A- 18532-18565

B- 18479-18516

3- Last 10 Sessions actual trading between 18465-18777 

Conclusions from 10 Sessions

intra day chart analysis 

Last 10 sessions sideways trading between 18465-18777 with above mentioned supports and resistances which seems to be almost equal stronger therefore firstly Nifty will have to trade and prepare for next trend within this range in next week. As finally sustaining beyond last 10 sessions like bigger trading range will confirm next one sided decisive moves therefore it should be watched in the coming week/weeks for its confirmations.

Nifty-Intra Day Chart

Analysis(09-Jun-2023)

Nifty-Intra Day Chart (09-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Volaitlity in first hour between 18609-18676

2- Selling between 18623-18665

3- Down moves with upward corrections

4- Down moves in Bullish Falling Channels

5- Whole day actual trading between 18556-18676

Conclusions from intra day

chart analysis 

Although firstly up moves after positive opening but turned into volaitlity in first hour and after that selling was seen in next 2 hours as well as follow up selling through Down moves with upward corrections therefore correction remained continued till last minutes. As lower levels consolidation through Down moves in Bullish Falling Channels in last 2 hours therefore firstly up moves will be seen within last Friday trading range(18556-18676) but complete conoslidation is required for sustaining above last friday highest because good intraday selling was also seen below it last Friday.

More or less firstly up moves and after that sideways trading is expected within last Friday trading range(18556-18676) in the beginning on next week.

Conclusions

(After putting all studies together)

1- Short Term Trend is sideways between 18465-18777 

2- Intermediate Term Trend is up.

3- Long Term Trend is up.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 new Waves structure completed at 18887.6 on 01-12-2022 and "ABC" correction started. The Pull Back Rally which started from its Wave-C bottom(16828.3) has recovered 94.67% of "ABC" correction and remained only 109.7 shorter from the top of on going correction therefore strongest indications of "ABC" correction completion have emerged.    

As intraday charts of last Friday are suggesting up moves beginning possibilities in the beginning of next week therefore firstly sustaining beyond above above mentioned resistances should be watched in next week because Short term indicators are suggesting some more down moves possibilities which will be deeper if Nifty sustains below last 10 sessions sideways trading range lowest(18465). Supports below the lowest of last 10 sessions trading range are as follows:-

1- 18419-18445

2- 18373-18397

3- 18325-18353

4- 18203-18261

5- 18059-18127

It has been seen that many times Bullish markets completes its correction in sideways markets also and Nifty has turned sideways between 18465-18777 for the last 10 Sessions therefore firstly sustaining beyond this trading range should be watched in the coming week/weeks for:-

1- Forceful break out or sustaining above 18777 will mean strong rally above life time highest(18887.6) 

2- Forceful break down or sustaining below 18465 will mean correction continuation towards above mentioned next supports.

 Live Proofs of our 100% accurate 

Analysis & Outlooks

Following line was told yesterday at 08:30 PM in "Down moves expectations towards next supports":-

"down moves are expected towards next 

supports between 18532-18565"

As was told 100% same happened and:- 

1- Nifty closed 71.15 Points down today.

2- "Today Lowest" was at within yesterday mentioned supports range(18532-18565) at "18555.40".

3- "Today closing" was also at within yesterday mentioned supports range(18532-18565) at "18563.40".

Down moves expectations 

towards next supports 

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-06-2023)

Nifty-Intra Day Chart (08-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Up moves after flat opening

2- Selling between 18761-18777

3- Sharp fall in Mid-session

4- Selling between 18679-18721

5- Down moves in last hour 

6- Whole day actual trading between 18616-18777

Conclusions from intra day chart analysis 

Following lines were told yesterday in "firstly intraday correction is expected towards 18673":-

firstly intraday correction is expected towards 18673

As was told 100% same happened today and:- 

1- Intraday correction was seen today and Nifty closed 91.85 points down. 

2- Today lowest was at 18615.

Although firstly up moves were seen after flat opening but higher levels selling developed therefore sharp fall was after that. As follow up selling also in Mid-session hence again down moves in last hour and today closing was at the lower levels of the day. 

As whole day good intraday selling today therefore down moves are expected towards next supports between 18532-18565.

Firstly intraday correction & if complete consolidation then fresh rally

Nifty-Intra Day Chart Analysis & 

Market Outlook(08-06-2023)

Nifty-Intra Day Chart (07-Jun-2023):-

Technical Patterns formation in today intraday charts

1- Consolidation between 18636-18673

2- Up moves in Bearish Rising Channel

3- Whole day actual trading between 18636-18738

Conclusions from intra day chart analysis 

As firstly more than 3 hours consolidation after gap up strong opening therefore up moves remained continued till last minutes and today closing was at higher levels of the day. Although up moves were seen in last 2 hours but were in Bearish Rising Channel and Very Shott Term indicators have turned Over bought as well therefore firstly intraday correction is expected towards 18673. Let Nifty to sustain above 18673 and complete consolidation develop then fresh rally will be seen above today highest.

Finally 18532-18640 will confirm next big moves beginning amid firstly up moves expectations

Nifty-Intra Day Charts Analysis & 

Market Outlook(07-06-2023)

Nifty-Intra Day Chart (Jun 05 & Jun 06,2023):-

Technical Patterns formation in last 2 sessions intraday charts

1- Selling between 18608-18640 on 05-06-2023(immediate supports)

2- Sharp fall in last half hour on 05-06-2023

3- 79 Points Points down moves from intraday higher levels till 12 o' clock on 06-06-2023

4- Consolidation between 18532-18565 on 06-06-2023

5- Sharp up moves in last half hour on 06-06-2023

6- Last 2 sessions actual trading between 18532-18640 

Conclusions from 2 sessions

intra day chart analysis 

Following lines were told on 02-06-2023 in "Sustaining beyond 18465-18662 will confirm next trend":-

1- up moves in the beginning of next week

2- finally sustaining beyond 18465-18662 will confirm next trend towards above mentioned levels therefore should be firstly watched in next week.

3-  firstly Nifty will have to trade within this range in the beginning of next week. 

As was told 100% same happened and:-

1- Nifty closed 59 points up after 106 points intraday gains on 05-06-2023.

2- Nifty traded within mentioned range(18465-18662) and between 18532-18640 in first 2 sessions of the week.

As higher levels good selling and lower levels good consolidation in first 2 sessions of this week between 18532-18640 therefore NIfty will firstly trade and prepare for next decisive moves within and near about it. Finally sustaining beyond this range will generate strong signal of next one sided big moves beginning which should be firstly watched in the coming sessions for it. As  sharp up moves were seen in last half hour on 06-06-2023 after lower levels good intraday consolidation therefore firstly up moves are expected towards immediate resistances(18608-18640) and firstly sustaining it beyond should be watched tomorrow for first signal of next big moves beginning.

As out of station therefore unable to post today(06-06-2023) Outlook. 

Sustaining beyond 18465-18662 will

 confirm next trend

Technical Analysis,Research & Weekly Outlook

(Jun 05 to Jun 09,2023)

Nifty-EOD Chart Analysis

(Corrective Waves)

Nifty-EOD Chart (02-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction beginning.

2- Corrective Wave-A of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 17774.3 on 26-12-2022.

3- Corrective Wave-B of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion at 18265.3 on 30-12-2022.

4- Corrective Wave-C of Wave-[(ii)] of Wave-[(iii)] of Wave-1 completion indication with recent bottom formation at 16828.3 on 20-03-2023 because that Pull Back Rally which begun from this level is continuing strongly with recent top formation at 18662.5 on 30-05-2023. 

Conclusions from EOD chart analysis

(Corrective Waves)

Corrective Wave-A of "ABC" correction begun after impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completion at 18887.6 on 01-12-2022. Its Wave-A completed at 17774.3 on 26-12-2022 and from this level Wave-B started which completed at 18265.3 on 30-12-2022. Wave-C begun from this level which showed strong indications of its comletion after its bottom formations at 16828.3 on 20-03-2023 because that Pull Back Rally which begun from this level is continuing strongly with recent top formation at 18662.5 on 30-05-2023 and no confirmations of its completion yet on EOD Charts.. 

.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (02-Jun-2023):-

Technical Patterns and Formations in EOD charts

1- Pull Back Rally beginning from 16828.3 on 20-03-2023

2- Pull Back Rally continuation with recent top formation at 18662.5 on 30-05-2023.

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

4- Stochastic:- %K(5)- 51.42 & %D(3)- 69.27.

5- MACD- Its both lines are kissing in positive zone.

6- MACD(26,12)- 147.36 & EXP(9)- 137.57 & Divergence- 9.79

Conclusions from EOD chart analysis

(Stochastic & MACD)

Positions of Daily indicators are as follows:-

1- As in Short Term indicator Stochastic %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore some more dowm moves can not be ruled out in the coming week. 

2- As both lines of MACD are kissing in positive zone therefore this indicator is not showing any side clear direction. Let upward or downward clear cross over happen in it then that side next Trend will get confirmations. If finally upside clear cross over will develop then strong up moves will be seen because its both lines are in positive zone. 

Nifty-Last 5 Sessions

intraday charts analysis

Nifty-Intra Day Chart (May 29 to Jun 02,2023):--

Technical Patterns formation in last 5 Sessions intraday charts

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

A- 18544-18580

B- 18615-18662 

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

A- 18479-18516

3- Last 5 Sessions actual trading between 18465-18662 

Conclusions from 5 Sessions

intra day chart analysis 

Last 5 Sessions trading between 18465-18662 with above mentioned supports and resistances. As both supports and resistances are stronger and firstly Nifty has to prepare for next decisive moves beginning beyond this 5 sessions range therefore firstly Nifty will have to trade within this range in the beginning of next week. 

Finally sustaining beyond 18465-18662 should be watched in the coming week for fresh rally beginning after sustaining above 18662 and Short Term correction beginning after sustaining below 18465.

Nifty-Intra Day Chart Analysis

(02-Jun-2023)

Nifty-Intra Day Chart (02-Jun-2023):-

Technical Patterns formation in today intraday charts

1- 94 Points sharp fall in first hour after strong opening

2- Consolidation between 18479-18516

3- Up moves with downward corrections

4- Volatility in last 2 hours between 18495-18566

5- Whole day actual trading between 18479-18573

Conclusions from intra day chart analysis 

Although firstly 94 points sharp fall in first hour after strong opening but after that lower levels consolidation developed and follow up consolidation was also seen in Mid-session through up moves with downward corrections therefore firstly up moves are expected in the beginning of next week. As volatility in last 2 hours between 18495-18566 and technical positions reverses also during such volatility therefore firstly sustaining beyond this range should also be watched in the beginning of next week amid rally continuation expectations.

Conclusions (After putting all studies together)

1- Short Term Trend is sideways between 18465-18662 

2- Intermediate Term Trend is up.

3- Long Term Trend is up.

Impulsive Wave-(i) of Wave-[(iii)] of Wave-1 completed at 18887.6 on 01-12-2022 and Corrective Wave-A of "ABC" correction started. Its Wave-C completion strong indications developed at 16828.3 on 20-03-2023 because the Pull Back Rally which started from this level has proved stronger after gaining 1834.2 points(10.89%) from Wave-C lower levels and no confirmation of its completion yet on EOD charts. 

Although Short term indicator Stochastic is showing more down moves signals but intraday charts of last Friday are suggesting up moves in the beginning of next week therefore firstly sustaining beyond above mentioned resistances should be watched for the life and length of expected up moves. As finally sustaining beyond last 5 sessions trading range(18465-18662) will confirm fresh rally towards and above life time highest(18887.6) or Short Term correction towards following next supports therefore firstly should be watched in the coming week/weeks for its confirmations:- 

1- 18419-18445

2- 18373-18397

3- 18325-18353

4- 18203-18261

5- 18059-18127

As finally sustaining beyond 18465-18662 will confirm next trend towards above mentioned levels therefore should be firstly watched in next week.

Watch yesterday lowest & immediate Resistances after loosing all 86 points gains in first hour

Post-open Outlook(02-06-2023)

As all the Asian markets were trading with good gains and most were more than 1% up as well as Hang Seng was more than 3 % up after strong closing of all US markets yesterday therefore Indian markets opened positive and firstly traded 86 points up.

More than 4 hours selling was seen between 18544-18580 yesterday and it was immediate resistances of Nifty therefore Nifty moved down sharply in first hour and now trading in Red after loosing all 86 points intraday gains.

Although Bullish Global markets but firstly Indian markets will have to prepare technically for decisive up moves beginning therefore firstly sustaining beyond yesterday lowest(18465) and immediate resistances of Nifty(18544-18580) should be watched today and in the coming sessions for the life and length of on going correction in Indian markets.

Watch next supports for the life & length of on going Short Term correction

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-06-2023)

Nifty-Intra Day Chart (01-Jun-2023):-

Technical Patterns formation in today intraday charts

1- More than 4 hours selling between 18544-18580(immediate Resistances)

2- Down moves with upward corrections

3- Sharp fall in last half hour

4- Whole day actual trading between 18465-18580

Conclusions from intra day chart analysis 

Following lines were told on 29-05-2023 in "Firstly watch next supports amid down moves expectations towards it":-

down moves expectations towards next 

supports between 18419-18445.

Following lines were told on 30-05-2023 in "Down moves towards next supports":-

down moves are expected below today lowest and towards yesterday mentioned next supports(18419-18445)

As was told 100% same happened and Down moves were seen in last 2 sessions with today lowest formations at 18464.55 today which was little above in last 2 sessions mentioned next supports.

As firstly more than 4 hours selling and after that down moves with upward corrections in Mid-session therefore sharp fall was seen in last half hour today. More than 5 hours clear selling patterns formations therefore correction continuation is expected towards next supports. Finally sustaining beyond following next supports should be watched in the coming sessions for the life and length of on going Short Term correction:-.

1- 18419-18445

2- 18373-18397