Intra Day Chart Analysis & Market
Outlook(11-09-2015)
Nifty-Intra Day Chart (10-Sep-2015):-Outlook(11-09-2015)
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1- Immediately after opening up moves in Bearish Rising Channel
2- Selling patterns formation between 7733-7775
3- 80 Points rally in last 40 Minutes after more than 180 points rally of Dow' Futures
4- Whole day actual trading between 7678-7819
Conclusions from intra day chart analysis
When all the European markets are more than 1.75% up and Dow's Futures was also trading 180 points up then following lines were told yesterday at 06:32 PM in "Possibility of Fresh Down Moves after Selling Patterns Formations Today":-
1- emergence of fresh down moves signals today
2- view will not be Bullish despite such strong closing today
3- As selling patterns formations today therefore more possibility of slipping below today lowest(7786)
As was told 100% same happened and Nifty traded whole day in Red as well as closed 30 points down today.
Firstly 138 points down trading after huge gap down opening but also whole day up moves and closing after gaining more than 100 points from lower levels near the higher levels of the day today.
As firstly up moves were in Bearish Rising Channel and selling patterns were also seen as well as last 80 Points rally was on the back of more than 180 points rally of Dow' Futures therefore view will not be Bullish despite today closing near the higher levels of the day.
Huge gap down opening was due to most Bearsh Asian markets and last 40 Minutes sharp 80 points surge was on the back of more than 180 points rally of Dow' Futures as well as consolidation patterns were also not seen therefore whole day trading of today will be understood Global cues affected and follow up moves within 7678-7881 will be firstly watched in the coming sessions for next decisive moves confirmations.
Correction is on and as such no consolidation yet therefore view will not be Bullish despite today closing near the higher levels of the day after more than 100 points recovery from lower levels.