Let Global markets crashing stop then sharp rally in Indian markets
Intra Day Chart Analysis & Market Outlook
(14-05-2019)
Nifty-Intra Day Chart (13-May-2019):- |
| Just click on chart for its enlarged view |
1- More than 6 hours trading with Mixed Patterns formation between 11225-11300
2- Sharp fall in last half hour
3- Whole day actual trading between 11126-11300
Conclusions from intra day chart analysis
As following most negative news today morning therefore Dow Jones"s Futures was traded whole day today more than 250 points down and resultant all the Asian markets and European markets were trading in Deep Red therefore initial weakness was seen in Indian markets also.
Although more than 6 hours trading with Mixed Patterns formation but sudden fall in last half hour because sharp down moves started in Dow Jones"s Futures due to following news break out:-
1- US-China trade war heats up as Trump hikes tariffs
2- Trade war: Wall Street tumbles to two-month low as China hits back
As above mentioned most negative news and resultant all the US and European markets are now crashing therefore in reaction Indian markets may also trade in negative zone despite but let Global markets crashing stop then sharp rally will be seen in Indian markets because good intraday consolidation in last 3 sessions.