Finally today started correction continuation towards next supports
Intra Day Chart Analysis & Market Outlook
(05-04-2018)
Nifty-Intra Day Chart (04-Apr-2018):- |
| Just click on chart for its enlarged view |
1- More than 3 hours selling between 10242-10279
2- Sharp down
3- Last 2 hours sideways trading between 10112-10154
4- Whole day actual trading between 10112-10279
Conclusions from intra day chart analysis
Following lines were told yesterday in "10227 will confirm life of on going Pull Back Rally":-
1- Short Term indications are over bought therefore Short Term correction has become very much due
2- firstly 3/4 hours trading patterns and its resultant finally sustaining beyond 10227 should be watched tomorrow for the life of on going Pull Back Rally
As firstly more than 3 hours selling between 10242-10279 therefore sharp down in Mid-session and closing 98 points below 10227 today.
Immediate supports were between 10105-10150 and today closing was within this range after last 2 hours sideways trading between 10112-10154 therefore Nifty will firstly trade within and near about this range and finally sustaining beyond 10105-10279 will confirm next decisive moves
Last 11 sessions trading between 9952-10279 and expected that finally today started correction will remain continued towards next supports(9952-10019) after follow up selling in the next 1/2 sessions.