Intra Day Chart Analysis & Market
Outlook(13-10-2015)
Nifty-Intra Day Chart (12-Oct-2015):- |
| Just click on chart for its enlarged view |
1- Selling patterns formation between 8199-8219
2- Whole day down moves in Bullish Falling Channel
3- Whole day actual trading between 8129-8245
Conclusions from intra day chart analysis
As all the Asian markets were trading in Green and some markets were strong also therefore positive opening of Indian markets but selling was also seen between 8199-8219 immediately after opening. Some selling was also seen between 8206-8232 last Friday and follow up selling developed within this range today therefore 8199-8232 has developed immediate resistance range and some more consolidation is firstly required to cross and sustain above 8232.
As whole day down moves were also seen in Bullish Falling Channel after higher levels selling therefore today trading will be understood with mixed patterns formations and view will be watchful and cautious. Good consolidation between 8106-8139 on 08-10-2015 and selling between 8199-8232 in last 2 sessions therefore expected that Nifty will trade between 8106-8232 tomorrow and prepare for next decisive moves.
No gossiping never guessing and whatsoever market suggest only that is always updated. Let market prepare for next trend and decisive moves then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years