Only Indian markets participation in Bullish Global markets
Intra Day Chart Analysis & Market Outlook
(24-12-2015)
Nifty-Intra Day Chart (23-Dec-2015):- |
| Just click on chart for its enlarged view |
1- Sharp up after opening
2- Almost whole day up moves in Bearish Rising Channel
3- Whole day actual trading between 7827-7872
Conclusions from intra day chart analysis
As Dow Jones closed 165 points up yesterday and in reaction all the Asian markets was trading in Green therefore resultant strong opening of Indian markets and whole day sideways trading within 45 points betwen 7827-7872. Although today closing with 1.03% gains but on the back of strong Global cues therfore view will not be Bullish because almost whole day today up moves were in Bearish Rising Channel and intraday selling patterns were seen in last 3 sessions also.
Global markets are strong and now Dow Jones is trading more than 100 points up as well as almost all the European markets are also more than 2% up therefore only Indian markets participation in Bullish Global markets will be understood in the form of Pull Back Rally towards following next resistance:-
1- 7877-7897
2- 7917-7934
3- 7953-7968