Finally slipping below immediate supports of Nifty
Intra Day Chart Analysis & Market Outlook
(21-02-2018)
Nifty-Intra Day Chart (20-Feb-2018):-
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1- Selling between 10380-10429
2- Sharp fall in last hour
3- Whole day actual trading between 10348-10429
Conclusions from intra day chart analysis
As firstly more than 5 hours selling and after that sharp fall in last hour therefore on going correction continuation is expected in the coming sessions.
Following lines were told on 18-02-2018 in "Firstly watch levels for next week big moves confirmations":-
1- firstly valid break out of last 7 Sessions trading range(10399-10637) will be watched for correction cotinuation towards next supports(10277-10372) below 10399 or first storng signal of correction completion above 10612.
2- high possibility of correction continuation after fresh selling
Correction remained contined in both previous sessions and today closing was within above mentioned next supports(10277-10372) at 10360.40 today.
Nifty got supports between 10304-10342 yesterday and closed above it today but after fresh selling between 10380-10429 therefore expected that Nifty will firstly trade and prepare for next decisive moves between 10304-10429 tomorrow.
Although immediate supports of Nifty are between 10277-10342 but higher levels good selling in previous weeks therefore expected that finally Nifty will slip below 10277 after fresh selling in the coming 1/2 sessions.