Short Term correction in the coming 2/3 sessions
Intra Day Charts Analysis & Market Outlook
(22-12-2015)
Nifty-Intra Day Chart (Dec 21 & Dec 22,2015) |
| Just click on chart for its enlarged view |
1- Selling between 7793-7836 on 18-12-2015
2- Selling between 7800-7840 on 21-12-2015
Conclusions from 2 Sessions intra day chart analysis
Although closing near the higher levels of the day today but almost 5 hours selling patterns formations were also seen today. As more than 5 hours selling was seen almost in the same range last Friday also therefore selling patterns formations will be understood between 7793-7840 in last 2 sessions and Short Term correction will be considered.
As Dow Jones is now trading 140 points up and all the European markets are also trading with good gains therefore if Asian markets remains strong tomorrow then gap up opening will be seen in Indian markets also but expected that Nifty will not sustain above today highest and finally down moves will be seen below today lowest(7733.45) in the coming 2/3 sessions after follow up selling.