Firstly watch levels for next trend confirmations
Intra Day Chart Analysis & Market Outlook
(03-05-2018)
Nifty-Intra Day Chart (02-May-2018):-
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1- Slipping after positive opening
2- Mid-Session Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 10690-10770
Conclusions from intra day chart analysis
Although Nifty spot opened more than 30 points up but Nifty May Fut opened negative and whole day traded in negative zone today therefore it will be understood first signal of weakness since opening.
Firstly slipping and after that more than 3 hours Up moves in Bearish Rising Channel are suggesting selling patterns formations but last hours Down moves in Bullish Falling Channel also therefore today intraday charts will be understood Mixed Patterns formations.
Last 2 sessions trading with Mixed Patterns formations between 10690-10770 is suggesting that Nifty will have to prepare for next decisive moves within and near about this range and finally sustaining beyond this range should be firstly watched in the coming sessions and next trend confirmations.