Firstly Sideways Market for next
Trend Preparations
Trend Preparations
Intra Day Chart Analysis & Market Outlook
(25-11-2016)
Nifty-Intra Day Chart (24-Nov-2016):- |
| Just click on chart for its enlarged view |
1- Selling between 7977-8004
2- Volatility in last 2 hours between 7953-8024
3- Whole day actual trading between 7953-8024
Conclusions from intra day chart analysis
As most Asian markets were trading in Red therefore weak opening and some selling also but high volatility in last 2 hours due to derivative expiry today therefore any conclusion can not be drawn only from today intraday charts formations.
As technical positions reverses during today like high volatility and higher levels selling,lower levels buying in last 4 sessions between 7917-8063 therefore Nifty will have to trade and prepare for next decisive moves within this range. Expected that Nifty will remain sideways between mentioned range in the coming 1/2 sessions and its valid break out will confirm next trend beginning which should be watched for confirmations.