First Indication of Next Big Moves
from 8085-8185
from 8085-8185
Intra Day Chart Analysis & Market Outlook
(11-06-2015)
Nifty-Intra Day Chart (10-Jun-2015):- |
| Just click on chart for its enlarged view |
1- Sharp 65 points up in first 4 minutes
2- Mixed Patterns between 8085-8115 in 5 hours
3- Whole day actual trading between 8030-8150
Conclusions from intra day chart analysis
Following lines were told yesterday in "Finally Pull back rally above 8057":-
1- Pull back rally is expected tomorrow.
2- fast up moves will be seen after valid break out above today highest(8057)
3- some resistances are lying between 8135-8185
4- strong rally will be considered after follow up consolidation and sustaining above 8185.
As was told 100% same happened and that fast Pull back rally was seen today which moved up 65 points sharply in first 4 minutes only. Resistances were told between 8135-8185 and Nifty could not sustain within this range as well as slipped below it after intraday highest formation at 8152.25.
As 5 hours mixed Patterns formations between 8085-8115 and resistances are lying just above it between 8135-8185 therefore follow up consolidation is firstly required for fresh strong rally and sustaining above 8185.
Expected that Nifty will firstly trade and prepare for next decisive moves between 8085-8185 and finally sustaining beyond this range will decide following next trend:-
1- Sustaining above 8185 will mean fast up moves possibility towards next resistance range(8427-8485)
2- Sustaining below 8085 will mean fast down moves possibility towards next support range(8008-8025)
37 sessions trading between 7997-8505 and finally break out of this range will decide next big moves but first indication of those big moves can be drawn from valid break out of 8085-8185 and must be watched in the coming sessions.