Intra Day Chart Analysis & Market Outlook(24-10-2017)
Nifty-Intra Day Chart (23-Oct-2017):-
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1- Down moves in Bullish Falling Channels
1- Consolidation between 10125-10142
3- Up moves with intraday corrections
4- Whole day actual trading between 10125-10224
Conclusions from intra day chart analysis
Following lines were told yesterday in "Firstly watch crucial levels for next big moves confirmations":-
1- As selling between 10206-10251 in last 4 sessions therefore it will be immediate resistance of Nifty and immediate supports are between 10154-10166
2- Nifty will firstly trade between crucial levels(10154-10251) and finally sustaining it beyond should be watched for next big moves confirmations.
Immediate supports were told between 10154-10166 and Nifty consolidated within and just below it today therefore these supports have strengthened today. As selling between 10206-10251 and Nifty could not sustaining within it today therefore follow up consolidation is firstly required tomorrow for fresh rally above life time highest.
same view with little change of levels that Nifty will firstly trade between crucial levels(10125-10251) and finally sustaining it beyond should be watched for next big moves confirmations.