Emergence of Deeper Correction Possibility
Intra Day Chart Analysis & Market Outlook
(26-11-2015)
Nifty-Intra Day Chart (24-Nov-2015):- |
| Just click on chart for its enlarged view |
1- Selling patterns formation between 7854-7870
2- Whole day actual trading between 7813-7870
Conclusions from intra day chart analysis
Following lines were told on 23-11-2015 in "Valid break out 7826-7877 will be next trend first strong indication":-
Nifty will have to prepare for next decisive moves within and near about today trading range(7826-7877),its valid break out will be next trend first strong indication and should be firstly watched tomorrow.
As was told 100% same happened and Nifty traded most time within mention range as well as closed between it at 7931.60 on 24-11-2015.
Selling at higher levels on 23-11-2015 and follow up selling on 24-11-2015 also therefore expected that more down moves will be seen on 26-11-2015 and emergence of deeper correction possibility also because correction is already on and still selling continuation for the last 2 sessions.