Just Watch 7854-7877 for first strong signal of next big decisive moves
Intra Day Chart Analysis & Market Outlook
(27-11-2015)
Nifty-Intra Day Chart (26-Nov-2015):- |
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1- More than 4 hours trading between 7854-7877 with Mixed patterns formations
2- 4 hours trading range broken out after positive opening with recovery from lower levelsof all European markets
3- Whole day actual trading between 7832-7897
Conclusions from intra day chart analysis
As sentiment was good after positive zone trading of all the Asian markets therefore Green opening of Indian markets. Selling was seen between 7854-7877 in last 2 sessions and Nifty was not prepared to sustain above 7877 therefore firstly more than 4 hours of trading within this range. Although some up moves above 7877 but after positive opening and recovery from lower levels of all European markets therefore view will not be Bullish because;-
1- Today intraday patterns have not shown as such consolidation but Mixed patterns formations in first 4 hours.
2- All the intraday up moves were reaction of positive Asian markets and after 01:30 PM were due to Green European markets.
Last 11 sessions trading between 7714-7906 with and this range will decide next big moves. As good selling between 7854-7877 on 23 and 24 Nov was closing just above it at 7883.80 after Mixed patterns formations within this range as well as today whole day intraday moves were strong Global sentiments led therefore firstly valid break out of this range(7854-7877) should be watched in the coming sessions for first strong signal of next big decisive moves beyond 11 sessions trading range(7714-7906)