Firstly watch levels for next big moves confirmations
Intra Day Chart Analysis & Market
Outlook(06-11-2017)
Nifty-Intra Day Chart (03-Nov-2017):-
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1- Sharp fall after positive opening
2- Up moves in Bearish Rising Channel
3- 5 Hours trading with Mixed Patterns formation between 10433-10461
4- Whole day actual trading between 10403-10461
Conclusions from intra day chart analysis
Although closing near the higher levels of the day last Friday but complete consolidation was not seen and some selling also developed therefore view will be cautious. As last 5 hours trading with Mixed Patterns formation between 10433-10461 therefore firstly Nifty has to prepare for next decisive moves beyond this range
Following lines were told on 02-11-2017 in "Intra Day Chart Analysis & Market Outlook(03-11-2017)":-
Nifty traded more than 12 hours between 10413-10451 in last 2 sessions and finally valid break out of this range will confirm Short Term correction below 10413 and on going rally continuation above 10451.
Nifty closed just above 10451 at 10452.50 last Friday and traded with Mixed Patterns formation more than 18 hours between 10413-10461 in last 3 sessions therefore firstly Nifty has to prepare for next decisive moves within and near about this trading range and finally sustaining beyond this range will generate next big moves which should be firstly watched for confirmations.