Finally correction continuation amid Bounce Back
Intra Day Chart Analysis & Market Outlook
(08-09-2015)
Nifty-Intra Day Chart (07-Sep-2015):- |
| Just click on chart for its enlarged view |
1- 95 Points volatility in first 45 minutes.
2- More than 4 hours Mixed Patterns between 7618-7705.
3- Down moves in Bullish Falling Channel in last hours.
4- Whole day actual trading between 7546-7705
Conclusions from intra day chart analysis
High volatility immediately after opening and after that more than 4 hours trading with Mixed Patterns formations as well as last hours Down moves in Bullish Falling Channel also therefore it is clear that one sided technical positions formations was not seen today.
As correction is on therefore down moves were seen today but expected that Nifty will firstly trade within today trading range and prepare for next trend tomorrow. Although some signals of consolidation were seen today but not sufficient to suggest any decisive up move and only Bounce Back possibility will be considered within today trading range.
Expected that finally correction continuation will be seen after fresh selling within today trading range(7546-7705) but firstly some up moves/Bounce Back can not be ruled out within it.