Watch next supports,resistances & 

55-Day SMA for next next Trend 

formations & bigger moves beginning confirmations amid Middle-East war

 led Geo-Global uncertainty

Technical Analysis,Research & Weekly 

Outlook(Oct 07 to Oct 11,2024)

Nifty-EOD Chart Analysis

(Waves structure)

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

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

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

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

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

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

8- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 26277.30 on 27-09-2024.

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

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure started from 15183.40 on 17-06-2022 after Corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 begun which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 started which completed at 19333.60 on 04-10-2023 and Wave-B begun from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Now impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 26277.30 on 27-09-2024. Although no confirmation of Wave-(iii) of Wave-3 completion yet on EOD charts but Short Term correction begun in previous week which is now in continuation with its recent bottom formations at 24966.80 on 04-10-2024 and no signal of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

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

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

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

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling in Over sold zone therefore it will be understood that at present this indicator is showing first signal of on going on Short Term correction completion but not confirmations therefore let its both lines to move above Over sold zone after upward intersection then Short Term Upward moves will be seen. 

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

Nifty-EOD Chart Analysis

(Averages)

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

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 25611  

2- 21-Day SMA is today at 25485

3- 55-Day SMA is today at 24990

4- 100-Day SMA is today at 24270

5- 200-Day SMA is today at 23136

Conclusions from EOD chart analysis

(Averages)

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

Nifty-Intra Day Chart Analysis

(04-Oct-2024)

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

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- High volatility in Mid-Session

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

4- Whole day actual trading between 24967-25485

Conclusions from intra day chart analysis 

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

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

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is at stake.

3- Short Term Trend is down.

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

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

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

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

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

1- 25421-25468

2- 25592-25626

3- 25640-25739

4- 25787-25828(Gap Resistance)

5- 25886-25912

6- 25969-25606

7- 26135-26151(Gap Resistance)

Next supports below last Friday lowest are as follows:-

1- 24894-24927

2- 24816-24872

3- 24655-24709

4- 24533-24574

5- 24475-24497

6- 24394-24446

7- 24205-24272

8- 24117-24179

9- 23977-24094

10- 23932-24027

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

Firstly watch sustaining beyond 

25231-25294 for next intraday decisive

 moves beginning confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(04-10-2024)

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

Technical Patterns formation in today intraday charts

1- Some up moves after gap down opening

2- Sharp downward moves

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

4- Whole day actual trading between 25231-25639

Conclusions from intra day chart analysis 

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

Firstly watch 25740-25837 amid 

Middle-East war acceleration risk

Nifty-Intra Day Chart Analysis & 

Market Outlook(03-10-2024)

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

Technical Patterns formation in today intraday charts

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

2- 168 Points down in next 2 hours

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

4- Whole day actual trading between 25740-25907

Conclusions from intra day chart analysis 

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

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

1- 25650-25704

2- 25554-25586

3- 25377-25466

4- 25324-25373

5- 24942-25062(Strong Supports)

6- 24894-24927

7- 24816-24872

Firstly watch sustaining beyond

 25795-25819 for next intraday

 decisive moves

 beginning confirmations

Nifty-Intra Day Chart Analysis

(01-Oct-2024)

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

Technical Patterns formation in today intraday charts

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

2- Supports in last hour between 25795-25819

3- Whole day actual trading between 25795-26134

Conclusions from intra day chart analysis 

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

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

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

1- 26084-26106

2- 26061-26073

3- 26013-26047

4- 25854-25948

As was told on 29-09-2024,all that 

100% same happened today and Nifty 

closed 368 points down today.

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

Firstly watch next supports & even

 Short Term correction will be after

 complete selling patterns formations

 on intraday & EOD charts

Technical Analysis,Research & Weekly 

Outlook(Sep 30 to Oct 04,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (27-Sep-2024):- 

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

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

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

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

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

8- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 26277.30 on 27-09-2024. 

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from his level Impulsive Wave-1 of new Waves structure begun. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 started which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.4 on 15-09-20235 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 begun which completed at 19333.60 on 04-10-2023 and Wave-B started from this level. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Now impulsive Wave-(iii) of Wave-3 is in continuation forcefully with its recent high and new life time top formations at 26277.30 on 27-09-2024 and no signal of its completion yet on EOD charts.

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in Weekly charts

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

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

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

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

Conclusions from Weekly chart analysis

(Stochastic & MACD)

Technical positions of Intermediate Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line upward and its both lines are rising in Over bought zone therefore it will be understood that at present this indicator is suggesting on going upward moves continuation possibility and  not showing clear signals of Intermediate Term correction beginning but remain cautious and watchful because its both lines are in Over bought zone for the last 3 weeks.    

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

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 89.51 & %D(3)- 92.60.

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

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

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing in Over bought zone therefore it will be understood that at present this indicator is not showing signals of any side next Short Terms decisive  moves beginning. Let firstly downward intersection happen and its both lines to move below Over bought zone then Short term correction beginning will be considered.

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

Nifty-Intra Day Chart Analysis

(27-Sep-2024)

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

Technical Patterns formation in today intraday charts

1- Up moves after positive opening

2- Selling between 26258-26277

3- Down moves

4- Selling between 26234-26248

5- Down moves

6- Selling between 26191-26231

7- Whole day actual trading between 26152-26277

Conclusions from intra day chart analysis 

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

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is up.

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from his level Impulsive Wave-1 of new Waves structure begun. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 started which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation with its recent high and new life time top formations last Friday at 26277.30 and no indication of its completion yet on EOD and intraday charts. 

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

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

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

1- 26084-26106

2- 26061-26073

3- 26013-26047

4- 25854-25948

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

As still busy therefore unable 

to post today(27-09-2024) Outlook. 

 Firstly upward moves expectations & correction only after complete intraday selling

Nifty-Intra Day Chart Analysis & 

Market Outlook(26-09-2024)

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

Technical Patterns formation in today intraday charts

1- More than 4 hours consolidation between 25872-25948

2- Sharp up moves in last half hour

3- Whole day actual trading between 25872-26032

Conclusions from intra day chart analysis 

As higher levels clear intraday selling patterns formations yesterday therefore downward moves were expected and those were seen today also as well as Nifty got supports within yesterday mentioned supports(25849-25883) at 25,871.35 today.

Lower levels more than 4 hours good intraday consolidation today therefore sharp upward moves were seen in last half hour and Nifty closed first time above 26000 today. As lower good intraday consolidation and intraday selling patterns were not seen today as well as no resistance above today highest and closing therefore;-

1- Firstly upward moves are expected above 26000.

2- Until Nifty will not sustain below today lowest after complete intraday selling till then Short Term correction will not be seen. 

3-  Volatility may be seen for cooling down sentiments after Short Term indicators turning Over bought

Downward moves below today 

lowest and towards next supports

Nifty-Intra Day Chart Analysis &

Market Outlook(25-09-2024)

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

Technical Patterns formation in today intraday charts

1- Upward moves after negative opening

2- Selling between 25946-25979

3- Support between 25907-25932

4- Selling between 25953-25990

5- Sharp  fall

6- Whole day actual trading between 25887-26011

Conclusions from intra day chart analysis 

Although firstly upward moves after negative opening but higher levels selling developed therefore some downward moves were seen. As some supports developed in Mid-Session therefore fresh up moves started from lower levels and once Nifrt traded above 26000 also but follow up selling was seen therefore Nifty fallen shartly in last half hour.

As higher levels good intraday selling today therefore:- 

1- Down moves are expected below today lowest 

2- Towards next supports between 25849-25883

3- Firstly sustaining beyond 25849-25883 should be watched tomorrow for next intraday decisive moves beginning confirmations. 

Firstly watch sustaining beyond 26000 amid on going rally continuation expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(24-09-2024)

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

Technical Patterns formation in today intraday charts

1- Firstly upward moves after positive opening

2- Down moves in Bullish Falling Channels

3- Up moves with downward corrections

4- Whole day actual trading between 25848-25956

Conclusions from intra day chart analysis 

Although firstly upward moves after positive opening but after that down moves begun and Nifty slipped 75 points in one hour. As these down moves were in Bullish Falling Channels which is a Bullish pattern therefore up upward moves started which were with downward correction and this is also a Bullish pattern. whole day day good intraday consolidation will be understood for today trading and resultant:- 

1- On going rally continuation is expected toward next psychological level at 26000 

and 

2- Firstly sustaining it beyond should be watched in the coming session for next intraday decisive moves beginning confirmations.

Firstly upward moves & Short Term Correction beginning only after complete intraday selling patterns formations

Technical Analysis,Research & Weekly Outlook

(Sep 23 to Sep 27,2024)

Nifty-Weekly Chart Analysis

(Waves structure)

Nifty-Weekly Chart (20-Sep-2024):-

Technical Patterns and Formations in Weekly charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 02-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 24-03-2023.

4- Impulsive Wave-(i) of Wave-3 completion at 20222.45 on 15-09-2023. 

5- Corrective Wave-(ii) of Wave-3 completion at 18837.80 on 27-10-2023

6- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25849.25 on 20-09-2024.

Conclusions from Weekly chart analysis

(Waves structure)

Impulsive Wave-1 of new Waves structure begun from 15183.40 on 17-06-2022 after Corrective Wave-C of "ABC correction" of previous Waves structure completion at this level. Impulsive Wave-1 completed at 18887.60 on 02-12-2022 and from this level Wave-2 started which completed at 16828.30 on 24-03-2023 and Impulsive Wave-3 begun from this level. 

Impulsive Wave-(i) of Wave-3 completed at 20222.45 on 15-09-2023 and from this level corrective Wave-(ii) of Wave-3 started which completed at 18837.80 on 27-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. Now Impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25849.25 on 20-09-2024 and no indication of its completion yet on Weekly charts after previous week Weekly Long White Candle formations with closing at life time top.

Nifty-Weekly Chart Analysis

(Stochastic & MACD)

Nifty-Weekly Chart (20-Sep-2024):-

Technical Patterns and Formations in Weekly charts

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

2- Stochastic:- %K(5)- 85.47 & %D(3)- 84.17.

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

4- MACD(26,12)- 1123.68 & EXP(9)- 1127.89 & Divergence- -4.21

Conclusions from Weekly chart analysis

(Stochastic & MACD)

Technical positions of Intermediate Term indicators are as follows:-

1- As in Stochastic its both lines %K(5) and %D(3) are kissing in Over bought zone therefore it will be understood that at present this indicator is not showing any side decisive moves beginning signals. Let firstly downward intersection happen and its both lines to move below Over bought zone then Intermediate term correction beginning will be considered.

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

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (20-Sep-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 70.07 & %D(3)- 76.74.

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

4- MACD(26,12)- 203.73 & EXP(9)- 215.86 & Divergence- -12.13

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that this indicator has shown first signal of Short Term correction beginning which may be seen for cooling down heated sentiments after previous week strong rally. 

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

Nifty-Intra Day Chart Analysis

(20-Sep-2024)

Nifty-Intra Day Chart (20-Sep-2024):-

Technical Patterns formation in today intraday charts

1- 90 Points down in first half hour after positive opening

2- Up moves with downward corrections

3- Selling between 25763-25805

4- 311 Points sharp fall in 12 minutes

5- Up moves with downward corrections

6- Whole day actual trading between 25427-25849

Conclusions from intra day chart analysis 

Although firstly 90 points downward moves in first half hour after positive opening but after that up moves started with downward corrections which is a consolidation pattern therefore Nifty traded more than 400 points up also. As higher levels selling developed in Mid-Session amid heated sentiments therefore 311 points sharp fall was seen in 12 minutes after 01:25 PM.

As again last 2 hours Up moves were with downward corrections therefore most time consolidation patterns formations will be understood during last Friday intraday trading and more upward will be expected towards 26000 in the beginning of next week.

Conclusions

(After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is up.

Now Impulsive Wave-(iii) of Wave-3 is in continuation forcefully with its recent high and new life time top formations last Friday at 25849.25 and no signal of its completion yet on Weekly,EOD and intraday charts therefore its continuation will be seen in the coming week/weeks. 

As Intermediate Term Weekly indicators are in kissing mode therefore possibility of Intermediate Term correction beginning can not be ruled out but until complete selling patterns will mot develop minimum on EOD and intraday charts till then Intermediate Term correction will not begin. 

Although Short Term indicator Daily Stochastic has shown first signal of Short Term correction beginning but another Short Term indicator Daily MACD is not confirming any side Short Term Trend formations therefore only Short Term correction will be considered which may be sideways also. As last Friday intraday charts have shown most time consolidation patterns formations and minor selling patterns formations therefore firstly upward moves are expected in the beginning of next week. It should be kept in mind that until complete intraday selling patterns will not develop till then even Short Term correction will not be seen. Let  complete intraday selling patterns develop then Short Term correction will be considered towards following next supports which should also be watched one by one for the life and length of correction:-

1- 25650-25704

2- 25554-25586

3- 25377-25466

4- 25324-25373

5- 24942-25062(Strong Supports)

6- 24894-24927

7- 24816-24872

Watch today highest amid firstly 

up moves expectations

Nifty-Intra Day Chart Analysis & Market

Outlook(20-09-2024)

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

Technical Patterns formation in today intraday charts

1- Up moves after strong opening

2- 216 Points down in first 3 hours

3- More than 3 hours consolidation between 25377-25466

4- Whole day actual trading between 25377-25611

Conclusions from intra day chart analysis 

As FOMC announcements led stronger Global cues today morning therefore firstly up moves after strong opening and new life time top formations also but good intraday selling was seen in previous sessions therefore not sustaining at higher levels and Nifty slipped 216 points in first 3 hours. Lower levels more than 3 hours consolidation was also seen therefore:-

1- Firstly up moves are expected towards today highest

2- Sustaining beyond today highest should also be watched for next decisive moves beginning confirmations.

3- Until Nifty will not sustain below today lowest after complete intraday selling till then decisive down moves will not be seen.

 Sustaining beyond 25324-25401 will 

confirm next decisive moves beginning 

Nifty-Intra Day Chart Analysis & Market

Outlook(19-09-2024)

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

Technical Patterns formation in today intraday charts

1- Up moves after little negative opening

2- Selling between 25444-25482

3- 195 Points fall in Mid-session

4- Volatility between 25324-25401

5- Whole day actual trading between 25286-25482

Conclusions from intra day chart analysis 

Although firstly up moves after little negative opening but higher levels selling developed in almost nrxt 2 hours and intraday selling was also seen in both previous sessions also therefore 195 points fall was seen in Mid-session. As volatile trading in last 2 hours between 25324-25401 therefore firstly sustaining beyond this range should be watched tomorrow for next decisive moves beginning confirmations.

Down moves expectations below

 today lowest

Nifty-Intra Day Chart Analysis &

Market Outlook(18-09-2024)

Nifty-Intra Day Chart (17-Sep-2024):-

Technical Patterns formation in today intraday charts

1- Volatility in first hour after positive opening between 25353-25399

2- Up moves in Bearish Rising Channel

3- Last 4 hours selling between 25408-25441

4- Whole day actual trading between 25353-25441

Conclusions from intra day chart analysis 

Although positive opening but immediately slipping in negative zone in first 5 minutes and after that volatility was seen in first hour. As after that up moves were seen in Bearish Rising Channel and last 4 hours selling also between 25408-25441 therefore:-

1- Down moves are expected below today lowest(25353) in the coming sessions and 

2- Firstly sustaining beyond today lowest should be watched for next intraday drciive mobrs beginning confirmations.

Finally sustaining beyond 25337-25445

 will confirm next bigger decisive

 moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(17-09-2024)

Nifty-Intra Day Chart (16-Sep-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 25394-25445

2- Consolidation between 25337-25373

3- Selling between 25391-25421

4- Whole day actual trading between 25337-25445

Conclusions from intra day chart analysis 

Although firstly up moves after positive opening but higher levels selling developed therefore down moves were seen in Mid-session. As lower levels cosolidation developed therefore some up moves were also seen but again selling developed in last 2 hours therefore whole day today trading will be understood with Mixed patterns formations between 25337-25445.

 

Expected that Nifty will firstly trade and prepare for next decisive bigger moves within and near about 25337-25445 as well as finally sustaining it beyond will confirm it hence it should be firstly watched in the coming sessions for next bigger decisive moves beginning confirmations.

Bullish Rally continuation after Very Short Term/intraday correction completion

Technical Analysis,Research & Weekly 

Outlook(Sep 16 to Sep 20,2024)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (13-Sep-2024):-

Technical Patterns and Formations in EOD charts

1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.

2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.

3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.

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

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

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

7- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

8- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25433.30 on 12-09-2024.

Conclusions from EOD chart analysis

(Waves structure)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from his level Impulsive Wave-1 of new Waves structure started. Wave-1 completed at 18887.60 on 01-12-2022 and from this level Wave-2 begun which completed at 16828.30 on 20-03-2023 and Impulsive Wave-3 begun from this level which is now in continuation. 

Impulsive Wave-(i) of Wave-3 completed at 20222.45 and from this level corrective Wave-A of "ABC" correction of Wave-(ii) of Wave-3 started which completed at 19333.60 on 04-10-2023 and Wave-B begun. Wave-B completed at 19849.80 on 17-10-2023 and Wave-C started from this levels which completed at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 begun from this level. 

Now impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 25433.30 on 12-09-2024 and no indication of its completion yet on EOD charts.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (13-Sep-2024):-

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 71.27 & %D(3)- 57.01.

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

4- MACD(26,12)- 219.47 & EXP(9)- 353.65 & Divergence- -134.18

Conclusions from EOD chart analysis (Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line upward and its both lines are rising towards Over Over bought zone therefore it will be understood that at present this indicator is showing sigals of some more upward moves possibilities. 

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that this indicator has shown first signal of  Short Term downward trend formations. Let it move into negative zone then decisive downwrad moves will be seen after downward trend formation confirmations.

Nifty-Intra Day Chart Analysis

(13-Sep-2024)

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

Technical Patterns formation in today intraday charts

1- 143 Points down in first 18 minutes after 41 points positive opening

2- Minor consolidation in first hour between 25324-25345 

3- More than 4 hours trading with selling Patterns formation between 25354-25388

4- Whole day actual trading between 25293-25430

Conclusions from intra day chart analysis 

Although positive opening last Friday but firstly 143 points sharp fall was seen in first 18 minutes and Nifty traded 96 points down also. As lower levels minor consolidation developed therefore some up moves were seen and Nifty traded flat also. More than last 4 hours trading developed also with intraday selling Patterns formation last Friday therefore expected that down moves below last Friday lowest(25292.45) will be seen in the beginning of next week.

Conclusions (After putting all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is up.

Now impulsive Wave-(iii) of Wave-3 is in continuation forcefully with its recent high and new life time top formations at 25433.30 last Thursday and no indication of its completion yet on EOD charts. 

Although Short Term MACD indicator has shown first signal of  Short Term downward trend formations but at present no confirmations and Short Term Stochastic indicator is showing some more upward moves possibilities therefore it will be understood that firstly some upward moves will se seen. Let complete selling patterns develop on EOD and intraday charts and MACD to move into negative zone in downward intersection mode then decisive downward moves will be seen after Downward Trend formation confirmations.

As intraday chart  of last Friday is showing more than 4 hours selling Patterns formation therefore Very Short Term/intraday correction is expected towards following next supports in the beginning of next week and firstly sustaining them beyond should be watched for the life and of expected Short Term correction:-

1- 25324-25345(Minor Supports)

2- 24942-25062(Strong Supports)

3- 24894-24927

4- 24816-24872

Until complete selling patterns will not develop on intraday and EOD charts till then any bigger correction will not be seen and on going Bullish Rally will remained continued after Very Short Term/intraday correction completion.

Bullish rally continuation

Nifty-Intra Day Chart Analysis & Market

Outlook(13-09-2024)

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

Technical Patterns formation in today intraday charts

1- More than 4 hours consolidation between 24942-25062

2- 441 Points sharp up moves in last 2 hours

3- Whole day actual trading between 24942-25433

Conclusions from intra day chart analysis 

As firstly more than 4 hours consolidation after 140 points positive opening therefore 441 points sharp up moves were seen in last 2 hours and Nifty closed 1.89% up with new life time top formations. Nifty crossed previous life time top forcefully after previous 2 sessions consolidation and lower levels consolidation was seen today also therefore on going Bullish rally will remain continued in the coming sessions.

As still out of station therefore unable 

to post today(12-09-2024) Outlook. 

As out of station therefore unable 

to post today(11-09-2024) Outlook. 

Watch next resistances amid firstly

 upward moves expectations

Nifty-Intra Day Chart Analysis &

Market Outlook(10-09-2024))

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

Technical Patterns formation in today intraday charts

1- 99 Points down in first 15 minutes after weaker opening

2- Sharp up

3- Sharp up

4- Down moves in Bullish Falling Channels

5- Upward moves

6- Consolidation between 24870-24898

7- Up moves with downward corrections

8- Whole day actual trading between 24754-24957

Conclusions from intra day chart analysis 

Although firstly 99 points down in first 15 minutes after weaker opening but after that 2 times sharp upward moves were seen. As down moves in Bullish Falling Channels were seen in Mid-session therefore again upward moves developed and consolidation developed near about 2 PM also hence upward moves with downward corrections were seen  in last hour and Nifty closed near the top of the day.

As whole day only consolidation patterns formations therefore up moves are expected towards next resistances(25168-25193) tomorrow and firstly sustaining it beyond should be watched for next decisive moves beginning confirmations.

Firstly watch next supports amid Short Term correction continuation expectations

Technical Analysis,Research & Weekly

Outlook(Sep 09 to Sep 13,2024)

Nifty-EOD Chart Analysis

(Waves structure)

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

Technical Patterns and Formations in EOD charts

  

1- Corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 and impulsive Wave-(iii) of Wave-3 beginning. 

2- Impulsive Wave-(iii) of Wave-3 continuation with its recent high and new life time top formations at 25333.70 on 02-09-2024.

3- Short Term correction continuation with recent bottom formations at 24801.30 on 06-09-2024. 

Conclusions from EOD chart

analysis(Waves structure)

Impulsive Wave-(iii) of Wave-3 which started after corrective Wave-C of Wave-(ii) of Wave-3 completion at 18837.80 on 26-10-2023 is now in continuation with its recent high and new life time top formations at 25333.70 on 02-09-2024 and no confirmation of its completion yet on EOD charts. As Short Term correction begun and that is now in continuation also with its recent bottom formations last Friday at 24801.30 therefore firstly its completion confirmations is also required for next fresh rally beginning above life time highest. Let it firstly happen then fresh up moves of impulsive Wave-(iii) of Wave-3 will be considered.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

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

Technical Patterns and Formations in EOD charts

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

2- Stochastic:- %K(5)- 31.27 & %D(3)- 54.86.

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

4- MACD(26,12)- 430.53 & EXP(9)- 328.33 & Divergence- 102.2

Conclusions from EOD chart analysis

(Stochastic & MACD)

Technical positions of Short Term indicators are as follows:-

1- As in Stochastic its %K(5) line has intersected %D(3) line downward and its both lines are falling  towards Over sold zone hence it will be understood that at present this indicator is showing on going Short Term correction continuation possibility. 

2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone therefore this indicator is suggesting that Short Term upward trend is still intact despite downward moves in previous week.

Nifty-EOD Chart Analysis

(Averages)

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

Technical Patterns and Formations in EOD charts

1- 5-Day SMA is today at 25150 

2- 21-Day SMA is today at 24788

3- 55-Day SMA is today at 24505 

4- 100-Day SMA is today at 23660

5- 200-Day SMA is today at 22647

Conclsions from EOD chart

analysis (Averages)

AS Nifty has closed below 5-Day SMA in last 3 sessions of previous week and also closed little above 21-Day SMA last Friday therefore it will be understood Short Term Trend is at stake which will turn downward after few sessions closing below 21-Day SMA(today at 24788). Nifty is well above Intermediate and Long Term trends deciders(55 & 200-Day SMAs)  therefore it will be understood that these 2 trends are still up.

Nifty-Intra Day Chart Analysis

(06-Sep-2024)

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

Technical Patterns formation in today intraday charts

1- 288 Points fall from intraday higher levels in first hour

2- Selling between 24881-24954

3- Selling between 24846-24890

4- Whole day actual trading between 24802-25168

Conclusions from intra day chart analysis 

As higher levels intraday selling patterns formations were seen in previous week therefore firstly  288 Points fall from intraday higher levels was seen in first hour last Friday and after that more than 5 hours selling also developed hence firstly down moves are expected in the beginning of next week.

Conclusions (After putting

all studies together)

1- Long Term Trend is up.

2- Intermediate Term trend is up.

3- Short Term Trend is at stake.

Although impulsive Wave-(iii) of Wave-3 is in continuation with its recent high and new life time top formations at 18837.80 on 26-10-2023 and no confirmation of its completion also but Short Term correction begun from this level which is also in continuation with its recent bottom formations at 24801.30 last Friday. 

As till now no confirmation of on going Short Term corection completion yet and Short Term indicator Stochastic is also showing on going Short Term downward moves continuation possibility as well as intraday charts of last Friday are also showing complete intraday selling patterns formations therefore more downward moves and on going Short Term correction continuation is expected towards following supports in the beginning of coming week which should be watched one by one for on going Short Term correction continuation/completion confirmations because Short Term indicator MACD is still showing upward Trend formations:-

1- 24673-24729

2- 24533-24574

3- 24475-24497

4- 24394-24446

5- 24205-24272

6- 24117-24179

7- 23977-24094

8- 23932-24027

Although Short Term Trend is at stake but high possibility of its turning down because more downward moves are expexcted in the coming week therefore Nifty may slip well below its decider 21-Day SMA(today at 24788) and then finally sustaining beyond Intermediate Term Trend decider 55-Day SMA(today at 24505) should also be watched for its finally formation confirmations

Immediate next resistances are as follows which should be watched one by one for the life and length of fresh up moves which may begun after Short Term correction completion and/or Short Term indicators turning Over Sold:-

1- 24846-24954

2- 25168-25193

3- 25202-25225

4- 25249-25321