Watch 12140-12180 for next decisive moves amid Coronavirus fear
Intra Day Chart Analysis & Market Outlook
(14-02-2020)
Nifty-Intra Day Chart (13-Feb-2020):- |
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1- Slipped 32 points in first 2 minutes after positive opening
2- Down moves in Bullish Falling Channels
3- Last 3 hours up moves with downward corrections
4- Whole day actual trading between 12140-12225
Conclusions from intra day chart analysis
As spike in Coronavirus new cases and sentiment was depressed therefore all the Asian markets are flat to weak and Dow Jones's Futures is also trading more than 70 points down today morning hence Nifty slipped 32 points in first 2 minutes after positive opening
Some intraday consolidation was seen at lower levels today through Down moves in Bullish Falling Channels and last 3 hours up moves with downward corrections therefore if follow up consolidation develop tomorrow then decisive up moves will be seen. As most time today trading was between 12140-12180 therefore sustaining it beyond should be watched
As Coronavirus fear and no one knows about the seriousness of its consequences therefore its reactions on asian markets should also be watched in the morning.
As most time today trading was between 12140-12180 therefore sustaining it beyond should be watched tomorrow for next decisive moves amid Coronavirus fear.