Firstly watch levels amid rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(07-05-2019)
Nifty-Intra Day Chart (06-May-2019):- |
| Just click on chart for its enlarged view |
1- Mixed Patterns formation between 11609-11632
2- Sideways trading in last hours
3- Whole day actual trading between 11572-11632
Conclusions from intra day chart analysis
As following most negative news and all the Asian markets were in deep Red today morning resultant gap down opening of Indian markets today:-
(Just click at above topic link and go through whole news)
Although closing near the lower levels of the day but whole day today trading was news based and Mixed Patterns formation as well therefore firstly sustaining beyond today trading range(11572-11632) should be firstly watched in the coming sessions for next decisive moves first signal/confirmations.
As strong supports are lying above 11550 therefore until Nifty will not sustain below it till then any type of depper correction will not be seen but still expected that finally on going rally will remain continued without sustaining below 11550.