Mid-session Outlook(11-12-2015)
Nifty-Intra Day Chart (10-Dec-2015):- |
| Just click on chart for its enlarged view |
1- Last hours trading between 7655-7691 yesterday(on 11-12-2015)
2- Actual trading between 7660-7690 till 10:50 AM today(on 10-12-2015)
Conclusions from intra day chart analysis
Following lines were told yesterday in "Pull Back rally possibility amid sideways market before FOMC"
Volatility and up moves were also seen in last hours according to European markets and Dow's futures moves therefore some selling also can not be ruled out.
Although Nifty traded between 7655-7691 and also closed near the higher levels of the day yesterday but on the back of European markets and Dow's futures moves. As selling possibility was seen within this last hours range and also updated yesterday therefore first 2 hours today trading has been seen within this range between 7660-7703 for follow up moves and preparation for next decisive moves because some selling is being seen today also.
Last 4 hours trading within 7655-7691 and firstly valid break out of this range should be watched for next decisive moves confirmations.