3% to 5% Correction Possibility
Intra Day Chart Analysis & Market Outlook
(23-10-2015)
Nifty-Intra Day Chart (21-Oct-2015):- |
| Just click on chart for its enlarged view |
1- Selling between 8272-8294
2- Support between 8217-8240
3- Selling between 8252-8258
4- Whole day actual trading between 8217-8294
Conclusions from intra day chart analysis
Following lines were told yesterday in "just watch 8230 for sharp fall":-
1- Some down are expected
2- just watch valid break down of 8230 for sharp fall
As was told 100% same happened and down moves were seen after slipping 77 points from higher levels and 9 points down closing also today. Sharp fall after valid break down of 8230 was also told and Nifty slipped also below 8230 but valid break down was not seen and some recovery from lower levels.
Although some supports at lower levels but good selling was also seen at higher levels today and selling was seen in last 2 sessions also therefore view is turning Bearish. As lower levels some supports was also seen in last 2 sessions therefore sideways market between 8217-8294 may be seen but expected that finally valid break down of today lowest(8217) will be seen and 3% to 5% correction is expected in the coming 2/3 sessions.