Firstly Watch levels for on going correction continuation/completion
Intra Day Chart Analysis & Market Outlook
(10-11-2017)
Nifty-Intra Day Chart (09-Nov-2017):-
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| Just click on chart for its enlarged view |
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections
3- Whole day actual trading between 10267-10368
Conclusions from intra day chart analysis
Although strong opening but first 4 hours Down moves in Bullish Falling Channel and after that last 2 hours up moves with intraday corrections therefore today whole day trading will be understood with consolidation patterns formations which means emergence of Pull Back rally expectations.
As sharp fall in US and European markets therefore SGX Nifty is now trading more than 50 points down and if such weakness develops in Asian markets also tomorrow morning then weaker opening will be seen in Indian markets but until complete fresh selling will not develop till then Nifty will not sustain below today lowest and firstly sustaining below today lowest should be watched tomorrow for on going correction continuation/completion.