Firstly watch 12000 for rally continuation confirmations
Intra Day Chart Analysis & Market Outlook
(07-11-2019)
Nifty-Intra Day Chart (06-Nov-2019):- |
| Just click on chart for its enlarged view |
1- Consolidation between 11851-11894
2- Sharp up
3- Selling between 11960-12002
4- Whole day actual trading between 11851-12002
Conclusions from intra day chart analysis
Although Nifty closed positive(with 51 points gains) at 11941.30 on 04-11-2019 but good selling patterns were seen therefore we told for "Short Term correction Expectations" and Nifty slipped 91 points from there as well as formed today lowest at 11850.3.
As first 2 hours consolidation near lower levels of the day therefore sharp up moves were seen in Mid-Sesssion but some selling was also developed at higher levels below 12000 therefore firstly sustaining above 12000 should be watched tomorrow for rally continuation confirmations.