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Correction Continuation Possibilities below 7691

Intra Day Chart Analysis & Market 

Outlook(24-09-2015)

Nifty-Intra Day Chart (23-Sep-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Whole day up moves in Bearish Broadening Rising Channel
2- Whole day actual trading between 7724-7882

Conclusions from intra day chart analysis 

As Dow Futures was more than 150 points down and all the Asian markets were in deep Red therefore gap down opening in Indian markets but whole day up moves in lines with up moves in Dow Futures which recovered 200 points from lower levels and strong trading European markets.

Following conclusive lines were told yesterday in "Finally correction continuation amid High Volatility":-

Expected that Nifty will remain volatile between 7691-8055 up to RBI Credit Policy and finally correction will remain continued because no confirmation of its completion yet.

Nifty traded within above mentioned range between 7724-7882 today and expected that Nifty will trade within mentioned range up to RBI Credit Policy as well as correction continuation possibilities are still alive below 7691 because today whole day up moves were in Bearish Broadening Rising Channel but coming couple of sessions may be highly volatile despite rates cutting expectations in RBI Credit Policy and today closing near the higher levels of the day.