Firstly Watch 7828 Tomorrow
Intra Day Chart Analysis & Market Outlook
(26-04-2016)
Nifty-Intra Day Chart (25-Apr-2016):- |
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1- Slipping immediately after opening
2- More than 5 hours trading with Mixed Patterns between 7828-7866
3- Whole day actual trading between 7828-7911
Conclusions from intra day chart analysis
As most Asian markets were trading in Red and some were more than 0.60% down therefore firstly slipping after positive opening but last more than 5 hours trading with Mixed Patterns between 7828-7866 and closing also within 4 previous sessions trading range(7843-7978) despite slipping below it lowest therefore now Nifty will be understood sideways 7828-7980 and firstly valid break out this range should be watched for next trend confirmations.
Today intraday moves were effected in following manner:-
1- Most Asian markets were more than 0.60% down at the opening time of Indian markets therefore Indian markets slipping immediately after opening
2- Dow's Futures was trading trading with minor losses but it fell sharply and traded more than 80 points down with intraday bottom formation at 01:45 PM and exactly at this time Nifty also formed its bottom as well as moved up with up moves in both Dow's Futures and all European markets.
Dow's Futures-Intra Day Chart (25-Apr-2016):-
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1- 7828-7866
2- 7828-7980
As weaker Global markets led some selling patterns were was also seen today therefore once sustaining below 7828 will initiate deeper correction because that will be last 5 sessions trading range broken down confirmation also and should be firstly watch tomorrow.