Firstly Watch 7488-7521 Despite Negative News after Market Today
Intra Day Chart Analysis & Market Outlook
(13-01-2016)
(13-01-2016)
Nifty-Intra Day Chart (12-Jan-2016):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 7488-7521
3- Whole day actual trading between 7488-7578
Conclusions from intra day chart analysis
Following lines were told yesterday in "Still Correction Continuation Expectations":-
1- Nifty will firstly trade within today trading range(7485-7605)
2-still correction continuation will be considered below today lowest(7485)
As was told almost 100% same happened today and Nifty traded whole day today within yesterday trading range between 7487.80-7588.30 and also correction remained continued towards yesterday lowest as well as got support just above it at 7487.80.
Today down moves beginning immediately after opening but in Bullish Falling Channel and last 4 hours consolidation patterns formations also between 7488-7521 therefore technically indications of some up moves.
Following negative news after market today
1- Huge fall in November IIP(from 9.8% to -3.2%(MoM)
2- December CPI risen from 5.41 to 5.61%(MoM)
As above mentioned big negative news after market today therefore market may react through gap down opening tomorrow but finally sustaining below today lowest(7488) should be firstly watched tomorrow because possibility of some up moves above 7521 has turned alive today after good consolidation between 7488-7521.
Correction is on and only one day today good consolidation is not sufficient for its completion or trend reversal but suggesting only for some up moves which will be decided through sustaining beyond today consolidation range(7488-7521) and that should be firstly watched tomorrow for next Very Short Term Trend despite above mentioned negative news after market today.
अंतिम निष्कर्ष का हिंदी अनुवाद
करेक्शन चल रहा है और इसकी समाप्ति के लिए या ट्रेंड पलटने के लिए केवल आज एक दिन की खरीददारी पर्याप्त नहीं है लेकिन कुछ ऊपर की तरफ बढोत्तरी देखी जा सकती है जिसका अंतिम निर्णय आज की खरीददारी की रेंज(7488-7521) के पार बाज़ार के स्थिर होने के अनुसार किया जायेगा और ऊपर लिखे नकारात्मक समाचार होने के बाद भी इसे सबसे पहले कल ध्यान से देखा जाना चाहिए।