Watch levels for next trend confirmations amid some up moves possibilities
Intra Day Chart Analysis & Market Outlook
(14-06-2019)
Nifty-Intra Day Chart (13-Jun-2019):- | |
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1- Down moves in Bullish Falling Channel
2- Consolidation between 11818-11865
3- Last hour Up moves in Bearish Rising Channel
4- Whole day actual trading between 11818-11931
Conclusions from intra day chart analysis
As last 13 sessions most time trading is within 200 points between 11808-11934 therefore supports above 11808 has been updated many times in previous outlooks and Nifty got supports just above it at 11818 today.
Although lower levels consolidation today but some selling was also seen in last hour through Up moves in Bearish Rising Channel therefore more follow up consolidation is firstly required tomorrow for sustaining above today highest(11931)
As lower levels consolidation today therefore supports above 11808 has been strengthen and follow up consolidation in the coming sessions will mean rally beginning towards and above next resistances(11968-12000)
As lower levels supports and higher levels resistances between 11808-12000 therefore Nifty will firstly trade and prepare for next trend within this range and finally sustaining it beyond should be watched for next trend confirmations amid some up moves possibilities after lower levels consolidation today.