Firstly Watch Crucial levels amid High Volatility
Intra Day Chart Analysis & Market Outlook
(06-05-2016)
Nifty-Intra Day Chart (05-May-2016):-
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| Just click on chart for its enlarged view |
1- Consolidation between 7707-3329
2- High volatility according to the European markets.
3- Whole day actual trading between 7707-7777
Conclusions from intra day chart analysis
Following lines were told yesterday in "7715 Will Confirm Strong Bounce above 7800":-
1- more than 1% down closing of all European markets after Red closing of all Asian markets and
2- Dow Jones is also trading more than 120 points at this moment
3- our view is turning Bullish with the expectations of fresh up moves above 7800
When sentiment was extremely depressed yesterday then we told for fresh up moves which was seen also today through Nifty whole day Green zone trading and 0.38% positive closing after intraday highest formation at 7777.55. Indian markets were highly volatile according to the volatility in European markets which will be clear from following charts:-
European markets and Nifty-Intra Day Chart (05-May-2016):-
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| Just click on chart for its enlarged view |
As technical positions reverses in such like today high volatility therefore immediate next moves will be understood according to first 1/2 hours intraday patterns formation tomorrow and firstly sustaining beyond crucial levels(7680-7777) should be watched for next immediate decisive moves confirmations.