Next trend confirmations from levels
Intra Day Chart Analysis & Market Outlook
(20-11-2017)
Nifty-Intra Day Chart (17-Nov-2017):-
 |
| Just click on chart for its enlarged view |
1- Selling between 10310-10343
2- Down moves in last hours
3- Whole day actual trading between 10269-10343
Conclusions from intra day chart analysis
India's highest credit rating in decades and most Asian markets were trading with good gains therefore strong gap up opening last Friday but firstly more than 4 hours selling resultant slipping in last hours and closing near the lower levels of the day.
Previous resistances were between 10346-10377 and good selling was seen just below it between 10310-10343 last Friday therefore until Nifty will not sustain above 10377 after complete fresh consolidation till then decisive up moves will not be seen and on going correction will not be considered.
Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations.