8969-9072 Will confirm next decisive moves
Intra Day Chart Analysis & Market Outlook
(27-05-2020)
Nifty-Intra Day Chart (26-May-2020):- |
| Just click on chart for its enlarged view |
1- Selling between 9085-9146
2- Support between 8997-9061
3- Whole day actual trading between 8997-9161
Conclusions from intra day chart analysis
Following conclusive lines were told on 23-05-2020 in the part of "Nifty-Intra Day Chart Analysis(22-May-2020)" in "45 Sessions sideways market suggesting to follow next supports,resistances and Short Term Trend/Indicators ":-
1- last 5 hours sideways trading between 8969-9072 and negative closing also but some consolidation was also seen within this range
2- if Nifty sustains above 9072 after follow up consolidation then more up moves will be seen in next week
Consolidation was told and firstly up moves were seen and Nifty traded with 120 points gains also today but fresh selling developed therefore Nifty could not sustain at higher levels and closed below 9072 at 9029.05 today.
As some consolidation was seen between 8969-9072 last Friday and nifty got supports within this range between 8997-9061 today therefore firstly follow up moves and finally sustaining beyond 8969-9072 should be watched tomorrow for next decisive moves towards following levels:-
1- Resistances above 9072:-
A- 9095-9120
B- 9147-9178
C- 9200-9231
2-Supports below 8969:-
A- 8920-8968
B- 8860-8905
C- 8807-8835