Firstly Watch Crucial Levels after Global markets led volatility Today
Intra Day Chart Analysis & Market Outlook
(25-08-2016)
Nifty-Intra Day Chart (24-Aug-2016):-
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| Just click on chart for its enlarged view |
1- Mixed Patterns between 8634-8653
2- Volatility according to European markets and Dow's Futures
3- Up moves after sharp up in European markets and Dow's Futures
4- Whole day actual trading between 8621-8661
Conclusions from intra day chart analysis
Although closing near the higher levels of the day but as such consolidation patterns were not seen and today moves were on the back of Global markets volatility therefore next immediate moves will be decided through previous sessions technical positions formations and Crucial levels.
Last 8 Sessions trading between 8580-8687 with higher levels selling therefore view will not be Bullish until Nifty will not sustain above 8687 after follow up complete consolidation. Follow up selling and valid break down below 8580 will confirm decisive down moves and deeper correction possibility also.