Just Watch levels for next Trend confirmations
Intra Day Chart Analysis & Market
Outlook(24-07-2017)
Nifty-Intra Day Chart (21-Jul-2017):-Outlook(24-07-2017)
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1- Selling between 9906-9918
2- Lower levels consolidation between 9838-9868
3- Last hour Up moves in Bearish Rising Channel
4- Whole day actual trading between 9838-9918
Conclusions from intra day chart analysis
Following lines were told on 20-07-2017 in "Levels will confirm Short Term Correction beginning":-
down moves below today lowest(9863.45)can not be ruled out
Nifty slipped below 9863.45 after fresh selling between 9906-9918 and formed intraday lowest at 9838. Although first 2 hours selling and last hour Up moves in Bearish Rising Channel but lower levels also consolidation between 9838-9868 therefore last Friday trading will be understood Mixed Patterns formations between 9838-9918.
As higher levels selling last Friday and next resistances upto 9928 are also above last Friday highest therefore follow up consolidation is firstly required for next decisive up moves above 9928. Expected that Nifty will firstly trade and prepare for next trend between 9838-9928 and its valid break out of should be firstly watched in the coming sessions for its confirmations.