Sustaining beyond 2 levels will confirm

 next bigger downward moves 

beginning or not

Technical Analysis,Research & Weekly Outlook

(Oct 14 to Oct 18,2024)

Nifty-Weekly Chart Analysis

(Waves Structure,Stochastic & MACD)

Nifty-Weekly Chart (11-Oct-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 26277.30 on 27-09-2024.

7- Short Term correction continuation with recent bottom formations at 24694.30 on 07-10-2024.

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

9- Stochastic:- %K(5)- 42.58 & %D(3)- 68.60.

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

11- MACD(26,12)- 994.34 & EXP(9)- 1123.65 & Divergence- -129.31

Conclusions from Weekly chart analysis

(Waves structure,Stochastic & MACD)

Corrective Wave-C of "ABC correction" of previous Waves structure completed at 15183.40 on 17-06-2022 and from this level impulsive Wave-1 of new Waves structure started. Impulsive Wave-1 completed at 18887.60 on 02-12-2022 and from this level Wave-2 begun 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 26277.30 on 27-09-2024. Although no confirmation of its completion yet on Weekly charts but Short Term correction begun from this level which is in continuation with recent bottom formations at 24694.30 on 07-10-2024 and no confirmation of its completion also on Weekly charts. 

Technical positions of Intermediate 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 strong signals of Intermediate Term beginning has been generated and will be seen in the coming weeek/weeks.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive zone therefore strong indications of on going correction continuation after Intermediate Term Trend turning down confirmations.

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (11-Oct-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 26277.30 on 27-09-2024.

3- Wave-(iii) of Wave-3 has gained 7439.5 points(39.49%) in the last almost 1 year.

4- Short Term correction continuation with recent bottom formations at 24694.30 on 07-10-2024.

5- Wave-(iii) of Wave-3 has corrected 1583 points in the last 10 sessions.

Conclusions from EOD chart analysis

(Waves structure)

Impulsive Wave-(iii) of Wave-3 which started from 18837.80 is now in continuation with its recent high and new life time top formations at 26277.30 after gaining 7439.5 points and no confirmation of its completion yet on EOD charts. As now Short Term correction continuation with recent bottom formations at 24694.30 after loosing 1583 points and no indication of its completion also therefore:- 

1- Firstly On going correction completion confirmations is required for any decisive upward move beginning confirmations.

2- Once sustaining below on going correction bottom(24694.30) will mean deeper correction beginning confirmations. 

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (11-Oct-2024):-

Technical Patterns and Formations in EOD charts

1- Bearish Head and Shoulders pattern formations with its Neckline at 24753

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

3- Stochastic:- %K(5)- 39.63 & %D(3)- 30.87.

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

5- MACD(26,12)- -233.19 & EXP(9)- 188.63 & Divergence- -421.82

Conclusions from EOD chart analysis

(Stochastic & MACD)

Bearish Head and Shoulders pattern has been developed on EOD charts and its Neckline is at 24753. Although Nifty slipped below its Neckline but closed above it at 24765.8 on 07-10-2024 after intraday bottom formations below it at 24694.30. As Nifty traded just above its Neckline in the last 4 sessions of previous week between 24757-25234 therefore firstly sustaining beyond this range should be watched in the coming week for next decisive bigger moves beginning confirmations.      

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 sold zone therefore it will be understood that at present this indicator is showing more downward moves in the coming week.

2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in positive and negative zone therefore it will be understood that this indicator is showing more downward moves in the coming week after Short Term Trend turning downward confirmations.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (11-Oct-2024):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24951

2- 21-Day SMA is today at 25478

3- 55-Day SMA is today at 25026

4- 100-Day SMA is today at 24400

5- 200-Day SMA is today at 23226

Conclusions from EOD chart analysis

(Averages)

Although Long Term Trend is confirm up after Nifty trading well above its decider 200-Day SMA but Short Term Trend is confirm down and Intermediate Term Trend is at stake because Nifty is hovering around its decider 55-Day SMA for the last 6 sessions and closed below it also 4 times. As finally sustaining beyond 55-Day SMA will confirm next Intermediate Term trend formations and resultant next one sided bigger moves beginning therefore firstly it should be watched in the coming week/weeks. 

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.

Short Term Correction which begun after new life time top formations at 26277.30 on 27-09-2024 is now in continuation with recent bottom formations at 24694.30 on 07-10-2024 and no indication of its completion yet on EOD Charts.

As Bearish Head and Shoulders pattern formations and Intermediate/Short Term indicators are also showing signals of on going correction continuation possibility therefore bigger downward moves can not be ruled out in the coming week and firstly sustaining beyond following levels should be watched in the coming week for its confirmations:- 

1- Intermediate Term Trend 55-Day SMA which is today at 25026 and it will confirm from next 3 weeks to 3 months long one sided moves.

2- Bearish Head and Shoulders pattern Neckline at 24753.

Downward moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(11-10-2024)

Nifty-Intra Day Chart (10-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel

2- Sharp Upward moves

3- Sharp Downward moves

4- Selling between 25013-25051

5- Whole day actual trading between 24980-25134

Conclusions from intra day chart analysis 

Although positive opening but firstly Down moves were seen in Bullish Falling Channel therefore sharp upward moves were seen after that. As good intraday selling was seen between 25100-25234 yesterday also therefore Nifty could not sustain at higher levels within this range and sharp downward moves were also seen immediately. 

As more than 3 hours fresh selling also developed between 25013-25051 in Mid-Session today and good selling was seen above 25100 yesterday also therefore downward moves below today lowest(24980) and towards 24757 is expected tomorrow.

Firstly some upward moves possibility 

& finally 24757-25234 will confirm

 next bigger moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(10-10-2024)

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

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- Selling between 25198-25234

3- Selling between 25122-25157

4- Selling between 25100-25139

5- 192 Points down moves in last 2 hours

6- Some up moves after lower levels minor supports

7- Whole day actual trading between 24948-25234

Conclusions from intra day chart analysis 

Although firstly upward moves with downward corrections and Nifty traded 220 points positive also but higher levels selling developed and 2 times follow up selling was also seen after some down moves in mid-session therefore 192 Points downward moves were seen in last 2 hours and Nifty closed near the lower levels of the day. As some up moves after lower levels minor supports in last half hour and good intraday consolidation was seen below today lowest and above 24757 yesterday also therefore firstly some upward moves can not be ruled out tomorrow. 

Immediate resistances are lying between 25100-25234 therefore until Nifty will not sustain above 25234 after complete intraday consolidation till then decisive upward moves will not seen. In the same manner complete fresh selling is also required for sustaining below 24757 because good intraday consolidation was seen above it yesterday also. As both consolidation and selling has been seen in last 2 sessions between 24757-25234 therefore Nifty will trade within this range in the coming sessions and prepare for next bigger moves as well as finally sustaining beyond this range will confirm it hence it should also be finally watched in the coming sessions for next bigger moves beginning confirmations.

Watch 25125 amid more upward 

moves expectations

Nifty-Intra Day Chart Analysis & 

Market Outlook(09-10-2024)

Nifty-Intra Day Chart (08-Oct-2024):-

Technical Patterns formation in today intraday charts

1- Whole day up moves with downward corrections

2- Whole day actual trading between 24757-25045

Conclusions from intra day chart analysis 

Although firstly some down moves after positive opening but after that whole day up moves were with downward corrections which is a consolidation pattern therefore more upward moves are expected towards neat resistances(25056-25124). As last hours upward moves were due to Haryana BJP victory led heated sentiments and some profit booking also can not be ruled out therefore firstly some consolidation is also required near about today highest and once sustaining above 25124 will mean strong rally beginning therefore it should also be watched in the coming sessions.

As out of station therefore unable 

to post tomorrow(08-10-2024) Outlook. 

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.