Levels will confirm for next decisive moves
Intra Day Chart Analysis & Market Outlook
(11-10-2017)
Nifty-Intra Day Chart (10-Oct-2017):-
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| Just click on chart for its enlarged view |
1- Volatility in first 3 hours
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Volatility in last 3 hours
5- Whole day actual trading between 10003-10034
Conclusions from intra day chart analysis
Whole day sideways trading within 31 points with only intraday volatility and both consolidation and distribution patterns formations therefore no definite conclusion can be formed from only today intraday patterns formations and sustaining beyond 9960-10034 should be watched for next decisive moves confirmations.
As Short Term indicators have turned overbought and some intraday selling patterns formations yesterday therefore emergence of Short Term correction beginning expectations and once follow up clear selling in the coming sessions with sustaining below 9960 will mean deeper correction.
As rally is on and no confirmation of its completion yet therefore view will be cautious and above mentioned levels will confirm next decisive moves.