Intra Day Chart Analysis & Market
Outlook(22-09-2015)
Nifty-Intra Day Chart (21-Sep-2015):-Outlook(22-09-2015)
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1- Up moves with consolidations
2- Up moves with sufficient corrections
3- Whole day actual trading between 7909-7987
Conclusions from intra day chart analysis
As all the US and European markets closed more than 1% down last Friday and all the Asian markets were also trading in deep Red today morning therefore Indian markets traded whole day in negative zone after Gap down opening. Although such high depressed sentiments but Indian markets moved up whole day and also closed flat near the higher levels of the day. As today up moves were with intraday consolidations and sufficient corrections therefore some up moves can not be ruled out tomorrow and until fresh selling will not develop till then Nifty will not slip below today lowest.
Last 2 sessions trading between 7909-8055 with lower levels today consolidation and higher levels good selling last Friday therefore Nifty will firstly traded and prepare for next decisive moves within this range. As RBI Credit Policy on 29th Sep therefore Nifty will firstly prepare for post policy decisive moves within this range(7909-8055) and finally valid break out of this range will be strong indication of next trend after Credit Policy announcements.
Although all the Global markets slipped fast in last 2 sessions after FOMC meet last Thursday but Indian markets have out performed and closed flat today after good Up moves last Friday. Certainly Indian markets have shown some strength but good selling was also seen between 8023-8055 last Friday also therefore view will be cautious and firstly intraday trading patterns formation will be watched tomorrow between 7909-8055 and then final conclusions will be updated accordingly because Our Policy is:- "No gossiping never guessing and whatsoever market suggest,only that is always updated"