11083 will confirm fresh down moves amid Yes Bank negative news and crashing US markets
Intra Day Chart Analysis & Market Outlook
(06-03-2020)
Nifty-Intra Day Chart (05-Mar-2020):- |
| Just click on chart for its enlarged view |
1- Consolidation between 11245-11292
2- Selling between 11138-11389
3- Last hours down moves in Bullish Falling Channels
4- Whole day actual trading between 11245-11389
Conclusions from intra day chart analysis
Although firstly slipping after strong opening but lower levels consolidation developed therefore sharp up was seen in Mid-Session. As selling developed at higher levels therefore down moves were seen in last hours which were in Bullish Falling Channels hence lower levels buying and higher levels selling will be understood for today and that will mean Mixed Patterns formation between 11245-11389.
As RBI sets Rs 50,000 withdrawal limit on Yes Bank accounts and Dow Jones is trading more than 1000 points down today therefore SGX Niftry is trading more than 300 points weak below 10950 at this moment but lower levels buying today and immediate supports below today lowest are between 11083-11144 therefore firstly sustaining beyond 11083 should be watched tomorrrow for fresh down moves beginning confirmations.