Just watch next supports for the life of on going correction
Intra Day Chart Analysis & Market Outlook
(23-04-2019)
Nifty-Intra Day Chart (22-Apr-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 11626-11692
2- Whole day actual trading between 11584-11692
Conclusions from intra day chart analysis
Following conlcusive line was told on 20-04-2019 in "Rally continuation amid only a Very Short Term correction possibility":-
As some selling was seen on 18-04-2018 therefore eruption of Very Short Term correction possibility
As was told 100% same happened and correction was seen immediately after opening through gap down opening and slippping 70 points in first minute.
As more than 5 hours selling between 11626-11692 therefore some more down moves can not be ruled out and until complete consolidation will not develop till then Nifty will not sustain above 11692.
Supports between 11550-11603 were updated on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019" and Nifty closed within this range as well as firstly sustaining beyond this range should be watched in the coming sessions for the life of on going correction.