Up moves towards next resistances if no crashing like situation in Global markets
Intra Day Chart Analysis & Market Outlook
(26-03-2020)
Nifty-Intra Day Chart (25-Mar-2020):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 7715-7970(Immediate Supports)
3- Strong up moves in Mid-session
4- Up moves in Bearish Rising Channel in last hour
5- Whole day actual trading between 7715-8376
Conclusions from intra day chart analysis
As selling between 7845-7990 yesterday therefore firstly Nifty slipped after opening and consolidated between 7715-7970 then strong up moves were seen in Mid-session. Although today closing was near the higher levels of the day but some selling developed through Up moves in Bearish Rising Channel in last hour therefore firstly consolidation is required near about today hifger levels for fresh up moves.
If no crashing like situation in Asian markets tomorrow then today started up moves will remain continued towards following next resistances and until clear fresh selling patterns will not develop till then decisive down moves will not be seen because lower levels good consolidation has been developed between 7512-7840 in last 3 sessions and this range will be strong supports of Nifty.
1- 8429-8575
2- 9254-9403
3- 9430-9584