Watch levels for next Trend confirmations
Intra Day Chart Analysis & Market Outlook
(07-08-2017)
Nifty-Intra Day Chart (04-Aug-2017):-
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1- More than 4 hours Mixed Patterns formations between 9989-10026
2- Up moves in last hours
3- Whole day actual trading between 9989-10075
Conclusions from intra day chart analysis
Although firstly more than 4 hours trading was with Mixed Patterns formations but Up moves were seen in last hours and closing was also near the higher levels of the day therefore some up moves can not be ruled out in the beginning of next week.
As Mixed Patterns formations last Friday and last 9 sessions trding between 9945-10137 with higher levels following resistances therefore follow up consolidation is must for decisive up moves after new life time high formations:-
1- 10082-10096
2- 10107-10125
Both lower levels supports and higher levels resistances between 9945-10137 and firstly Nifty has to prepare for decisive moves beyond this range therefore follow up moves and valid break out of these levels should be watched in next week for next Trend confirmations.