11230 will confirm fresh down moves
Intra Day Chart Analysis & Market Outlook
(26-07-2019)
Nifty-Intra Day Chart (25-Jul-2019):- |
| Just click on chart for its enlarged view |
1- 90 Points Up moves in first 30 minutes but in Bearish Rising Channel
2- Fall after fresh selling at higher levels
3- Selling between 11270-11325
4- Whole day actual trading between 11240-11361
Conclusions from intra day chart analysis
As 6 Hours trading of yesterday was showing condolidation patterns formation therefore 90 Points sharp Up moves in first 30 minutes but Bearish Rising Channel formation was also seen at higher levels. As no follow up consolidation and fresh selling also developed at higher levels therefore not sustaining at higher levels and slipping in the next 40 minutes.
Although follow up selling in next 5 hours between 11270-11325 but consolidation was seen also above 11230 yesterday therefore sustaining below it after follow up selling should be firstly watched for fresh down moves confirmations.