11056-11145 Will confirm next moves
Intra Day Chart Analysis & Market Outlook
(01-08-2019)
Nifty-Intra Day Chart (31-Jul-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Consolidation between 11056-11105
3- Minor selling at higher levels through Up moves in Bearish Rising Channel
4- Up moves in Bearish Rising Channel
5- High volatility in last hours between 11095-11145
6- Whole day actual trading between 11000-11145
Conclusions from intra day chart analysis
Although firstly slipping after weaker opening but lower levels good condolidation therefore whole day up moves were seen.
As minor selling at higher levels also built up through Up moves in Bearish Rising Channel therefore slipping from intraday higher levels.
Some volatility in last hours between 11095-11145 and technical positions reverses in volatility as well as consolidation was below it between 11056-11105 therefore sustaining beyond 11056-11145 will confirm following next moves:-
1- Above 11145 will mean Pull Back rally towards next resistances(11190-11215)
2- Below 11056 will mean correction continuation after Long Term Trend turning down confirmations because in that situation 3 sessions continuous closing will be its decider 200-Day SMA(today at 11148)