Watch Levels for next big moves
Intra Day Chart Analysis & Market Outlook
(24-11-2017)
Nifty-Intra Day Chart (23-Nov-2017):-
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1- Up moves with intraday correction
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 10308-10374
Conclusions from intra day chart analysis
As whole day volatile market with both consolidation and selling patterns formations therefore no final view can be formed only from today intraday patterns formations. Most time selling patterns formations yesterday and most time consolidation patterns formation today means that no one sided technical positions formations in last 2 sessions.
Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-
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.
Above lines and levels were repeated in all the previous Outlooks of this week and Nifty traded within 10232-10377 which means that Nifty is preparing for next big moves and finally sustaining beyond this range should be watched in the coming sessions.