Firstly watch crucial levels for next big moves confirmations
Intra Day Charts Analysis & Market Outlook
(23-10-2017)
Nifty-Intra Day Chart (Oct 18 & Oct 19,2017)
 |
| Just click on chart for its enlarged view |
1- First 3 hours trading with Down moves in Bullish Falling Channel on 18-10-2017
2- Last 2 sessions Selling between 10206-10236 on 18-10-2017
3- Sharp fall during Muhurat trading session on 19-10-2017
4- 2 Sessions actual trading between 10123-10236
Conclusions from 2 Sessions intra day chart analysis
Following lines were told on 17-10-2017 in "Emergence of Short Term correction expectations":-
emergence of Short Term correction expectations and valid break down of 10200 will mean deeper correction towards following next supports:-
1- 10154-10166
2- 10024-10046
Although first 3 hours trading with Down moves in Bullish Falling Channel but higher levels follow up selling was also seen on 18-10-2017 therefore sharp fall during Muhurat trading session and closing below first support range on 19-10-2017. Short Term correction expectations was told and it was seen and sustaining below first supports range(10154-10166) will mean deeper correction towards above mentioned 2nd supports range.
As selling between 10206-10251 in last 4 sessions therefore it will be immediate resistance of Nifty and immediate supports are between 10154-10166 hence Nifty will firstly trade and prepare for next decisive moves between 10154-10251.
Expected that Nifty will firstly trade between crucial levels(10154-10251) and finally sustaining it beyond should be watched for next big moves confirmations.