Despite the intraday rally of 70 points, the trend asserted at "Golden Ratio"...when it mattered the most - EOW.

Trend following has its utility and makes trading easy for the patient followers...

Nifty asserted its week trend after 4 days of correction on its last day of the week...

Nifty, staying below the critical 80%, moves lower with weekly trend asserting but closes above WEma...

Nifty displays higher T/F trend assertion after taking care of ST T/F TA too..

Nifty, going briefly below Mth.pivot & WEma-6164-62, asserted its trend on the prices firmly..

Nifty's weekly downtrend asserted on the last day from the ST OB levels..

Nifty's month TA down trending & asserting itself at the latter part of the month after its sell on rise ended @ MHEma+40..

Nifty Pre-Market View.

Two EW options in contention:
1. A Flat "B" wave in progress, with its "sub-wave b" moving towards 5904-20(Prev.high/ 50dsma) and then move lower towards 5800 or lower to complete "sub-wave c" of B in red.
2. "B" in green completed @ 5760 and the next part of the corrective upmove heading towards the first resistance 5972, also the 61.8% retrace of "6229-5566" @ 5976.
Presently, the direction is "UP" till 5904-20. And that would be the "inflection/ invalidation/ validation" point.
EOD close above "5832" would keep the weekly trend "UP".
EOD close above "WHEma" would bring momentum to weekly uptrend.
Weekly trend started its "Trend assertion" from yesterday 2.15PM.

Nifty's weekly trend asserted itself at the critical "5971"....

We decided to follow the market using "Pivot table" this week on Monday as we have done few years ago with update of the 5-minute chart  and it proved once again to be highly rewarding.
There are various studies available to "follow the markets";
Choose yours and never deviate from it.
We also suggested to have a pre-market plan to follow day's proceedings:
Ours for the day was:
If manages to hold above "5885", the pause/ reversal possibility could work and the resistances would be 5940-51 initially and then "5971".. (Market made a low of 5887 and rallied to 5972)
We also alerted at 11.38AM the other pre-market plan:
Day of "weekly trend" to assert itself. And daily trend, too, is in downtrend.
(From "5971", our critical resistance number of past many days, it broke the channel and the weekly trend asserted itself with a reward of 100 points to 5871).
Stay objective to your studies....the only way to make your successful trades.
To do that, take a step back and see how the market is doing as per your studies..
Get Rich Slowly & Quietly.

Nifty's weekly trend asserted when it mattered the most.

To the disciplined follower of TA+EW,
a classic wave completion in its most imperfect form(iind wave & start of iiird) and
a trend assertion when it was time(Just turned down week trend asserting itself in the next week end).
Four days of upmove was seen because of oversold Day & Hour TA but the larger trend which had turned down on 24th May, asserted itself when the next week's close approached...today.
That is also termed as Rhythmic following of the markets using combination of studies.
When in doubt, stay out;
But When sure, .........act without fear.

Nifty Pre-Market View.

Correction is on....known once the resistances have held.
When the correction would end..??..
today in the morning session or would drag into Monday?
a perfect day for the week's downtrend to assert with Overbought Day/ Hour.
Below 5225-Day pivot, it is weak & gets weaker below 5189...bearish below 5160.
Bulls reversal only above 5231 & 5240 or above the 80% retrace of the fall from 5246.
Is it correcting the last rise from 5154-5246 or the 5033-5246.
"5172" holds the key...80% & WEma.
"5189" is the first support-61.8% of 5154-5246 retrace & 34 Hrsma.

Nifty, downtrending on week TA, closes the week at its lowest.

Nifty asserted its weekly trend when it mattered the most, the last 2 hours of the week.

Another example of "Technical supremacy" with today's price action.
Nifty entering the budget day with "Week & Day trends being down fresh", utilised the "intra rises" to sell & assert the trend supremacy.
5 period Ema/ average's trend indicating nature is amply demonstrated today.
Learn quickly the High emas' "upward momentum" indicating nature.
Learn quickly the Low emas' "downward momentum" indicating nature.
Learn quickly the Close emas' "Trend" indicating nature.
Trader's life would be forever easier with these.
The analysis here has never taken "Volume" into account as "No price will remain quiet with a significant change in volume" but there are misleading volumes when funds trade scrips in their portfolios.
This is not to discourage "volume followers" but to state in an assertive way that "Price has in it everything you'll ever want to know to make money".
To understand the prices, we study various methods, each having their strengths and take those strengths only.
Talking ill of a method would distract you. If there is a merit in it...go for it. If there is none, what in hell are you fiddling with it.
The biggest challenge for all of us is to remain "Objective" and once you habituate it, it is then just "action time".