12000 Will confirm next Trend
Intra Day Chart Analysis & Market Outlook
(21-11-2019)
Nifty-Intra Day Chart (20-Nov-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 12015-12038
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channels in last 2 hours
4- Whole day actual trading between 11966-12038
Conclusions from intra day chart analysis
Although whole day positive zone trading after gap up opening and Green closing as well but higher levels selling was also seen. As some consolidation was also seen at lower levels in last 2 hours through Down moves in Bullish Falling Channels therefore some up moves can not be ruled out.
As follow up selling was seen above 12000 today and Selling Patterns formations were developed yesterday also therefore sustaining above today highest after fresh intraday consolidation is must tomorrrow for on going rally continuation.
12000 is a big psychological level and both buying and selling patterns were seen near it about today therefore firstly sustaining beyond 12000 should be watched in the coming sessions because it will confirm next trend now.