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Deeper Correction Continuation
Intra Day Charts Analysis & Market Outlook
(18-01-2016)
Nifty-Intra Day Chart (Jan 07 to Jan 15,2016):-
Just click on chart for its enlarged view
Technical Patterns and Formations in last 7 Sessions intraday charts

1- 7 Sessions actual trading between 7425-7654
2- Selling between 7552-7640 in previous 6 sessions
3- Supports between 7488-7521 on 11-01-2016 and 12-01-2016
4- Supports between 7425-7458 on 13-01-2016 and 14-01-2016
5- Selling between 7504-7562 on 15-01-2016

Conclusions from 7 Sessions intra day chart analysis 

Last 7 sessions actual trading between 7425-7654 with above mentioned supports and resistances.As sufficiently big 7 sessions sideways trading between 7425-7654 therefore following line was told on 14-01-2016 in valid break out of 7425-7640 will produce 5% Nifty moves

It is confirm that valid break out of 7425-7640 will produce 5% Nifty moves

Good selling in previous 6 sessions and more than 4 hours follow up good selling was seen on 15-01-2016 also therefore expected that on going correction will remain continued below 7 sessions lowest(7425) in next week which may be deeper also. Just go through following topic links for detailed technical analysis of on going that correction which started on 04-03-2015 from 9119.20:-

1- Updated on 07-01-2016:- Correction Continuation towards 7104/6761
2- Updated on 13-09-2015:- Finally correction continuation towards 7104/6761
3- Updated on 06-09-2015:- Next Target of Nifty at 7104.30
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