Fresh Down Moves below 8185
Technical Analysis and Market Outlook
(30-04-2015)
Nifty-Intra Day Chart (29-Apr-2015):- |
| Just click on chart for its enlarged view |
1- Selling patterns formation between 8263-8290
2- Selling patterns formation between 8274-8308
3- Whole day actual trading between 8219-8308
Conclusions from intra day chart analysis
Although Nifty closed near the higher levels of the day yesterday but we were not Bullish and told following line yesterday in "Finally 8187 will decide next Big Moves of Nifty":-
good selling patterns formations were also seen today therefore view is cautious
Good selling patterns formations between 8185-8307 yesterday and follow up selling seen within this range today also therefore expected that fresh Down moves will be seen tomorrow and Nifty will slip below today lowest(8219) as well as possibility of slipping below yesterday lowest(8185) also.