8195 will be Next Big Trend Decider
Intra Day Chart Analysis & Market Outlook
(19-06-2015)
Nifty-Intra Day Chart (18-Jun-2015):- |
| Just click on chart for its enlarged view |
1- 55 Points sharp jump towards 8146 in first 15 minutes.
2- Whole day up moves in Rising Channel with some selling patterns but sufficient intraday corrections also within channel
3- Whole day actual trading between 8102-8186
Conclusions from intra day chart analysis
Following lines were told yesterday in "Rally above today highest(8136.85) after follow up consolidations":-
finally rally above today highest(8,136.85) is still expected in the coming sessions
As was told 100% same happened and Nifty crossed 8,136.85 in first 9 minutes as well as sharply jumped 55 points towards 8146 within first 15 minutes
More than 6 hours continuous up moves in Rising Channel with some selling patterns but sufficient intraday corrections also within channel therefore one sided patterns not formations and valid break out of this channel will decide following next trend:-
1- Upper rising line break out will mean testing of Long Term Trend decider 200 Day EMA(today at 8195) and once sustaining above 8195 will mean Long Term Trend turning up confirmation as well as fresh rally after strong signal of on going correction completion.
2- Lower rising line break down will mean down moves towards the bottom(7940.30) of on going correction after on going Pull Back Rally termination.
At present Pull Back Rally continuation with today highest at 9186 and next resistance is at 8192 as well as Long Term Trend decider 200 Day EMA is just above it at 8195. Once sustaining above 8195 will mean Long Term Trend turning up confirmation and resultant strong rally possibility towards next resistances at 8360. If Nifty fails to sustain above 8192 and after that lower line of today Rising Channel broken down also then same Bearish moves will be seen which have already been updated above.
As Long Term Trend decider 200 Day EMA(8195) will decide next Big moves therefore should be firstly watched in the coming sessions.