Correction continuation expectations towards next supports
Intra Day Chart Analysis & Market Outlook
(02-01-2018)
Nifty-Intra Day Chart (01-Jan-2018):-
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| Just click on chart for its enlarged view |
1- More than 5 hours selling between 10505-10537
2- Sharp fall in last hour
3- Whole day actual trading between 10423-10537
Conclusions from intra day chart analysis
Following lines were told in previous two Outlooks:-
1- Short term correction beginning may be seen any day
2- which may slip towards next supports between 10427-10458
As was told 100% same happened and Short term correction was seen on 1st Jan 2018 towards next supports(10427-10458) and closing was within it at 10435.55.
As closing was below previous 8 sessions closing and next supports below 10427 are up to 10406 therefore firstly sustaining beyond 10406 should be watched for on going correction continuation towards next supports between 10320-10350.
Correction is on and its continuation is expected towards above mentioned next supports.