Firstly watch levels amid Short Term correction expectations
Intra Day Chart Analysis & Market Outlook
(01-01-2018)
Nifty-Intra Day Chart (29-Dec-2017):-
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| Just click on chart for its enlarged view |
1- Whole day trading with Mixed Patterns formation between 10489-10538
2- Whole day actual trading between 10489-10538
Conclusions from intra day chart analysis
Following lines were told at 12:43 AM on 28-12-2017 in "Levels will confirm next Trend":-
1- More than 5 hours selling between 10532-10552
2- firstly Nifty has to trade and prepare for next decisive moves between 10470-10552 and finally sustaining beyond this range will confirm trend.
3- As Short term indicators have turned over bought and higher levels good selling also on 27-12-2017 therefore Short term correction beginning may be seen any day and firstly sustaining below 10470 should be watched for confirmations.
As good selling between 10532-10552 on 27-12-2017 therefore Nifty Could not move above 10552 and Mixed Patterns formation in both previous sessions also means same following view which was updated in previous outlook on 28-12-2017:-
Firstly Nifty has to trade and prepare for next decisive moves between 10470-10552 and finally sustaining beyond this range will confirm trend. As Short term indicators have turned over bought and higher levels good selling also on 27-12-2017 therefore Short term correction beginning may be seen any day and firstly sustaining below 10470 should be watched for that Short Term correction which may slip towards next supports between 10427-10458.