Finally correction continuation amid High Volatility
Intra Day Chart Analysis & Market Outlook
(23-09-2015)
Nifty-Intra Day Chart (22-Sep-2015):- |
| Just click on chart for its enlarged view |
1- Mixed Patterns between 7971-8021
2- Sharp down moves after Dow Jones Futures's huge fall
3- Whole day actual trading between 7788-8021
Conclusions from intra day chart analysis
Although first 4 hours trading with mixed patterns formations between 7971-8021 but sharp down moves beginning and closing near the lower levels of the day after more than fall 200 points sudden huge fall in Dow Jones Futures and more than 2% sharp slipping of all European markets.
Although Long Term Trend is down and today down moves have given Bearish markets continuation confirmations but coming sessions will be volatile due to rates cut expectations in RBI Credit Policy and Derivative expiry.
Expected that Nifty will remain volatile between 7691-8055 up to RBI Credit Policy and finally correction will remain continued because no confirmation of its completion yet.