Sideways Market for Next Big Moves Preparation
Intra Day Chart Analysis & Market Outlook
(14-01-2016)
Nifty-Intra Day Chart (13-Jan-2016):- |
| Just click on chart for its enlarged view |
1- Selling between 7552-7585
2- Support between 7425-7458
3- Up moves after strong opening of European markets and sharp surge in Dow's Futures
4- Whole day actual trading between 7425-7590
Conclusions from intra day chart analysis
Following lines were told yesterday in "Firstly Watch 7488-7521 Despite Negative News after Market Today"
1- technically indications of some up moves.
2- possibility of some up moves above 7521 has turned alive today
3- suggesting only for some up moves
Following lines were told today at 10:18 AM in "Firstly Watch Immediate Next Resistances after First Hour Strong Up Moves":-
1- Resistances between 7581-7606
2- Resistances between 7614-7640
A- Nifty will be understood sideways between 7488-7640
B- firstly above mentioned immediate next resistances should be watched after first hour strong up moves today.
Whatsoever were told in previous 2 Outlooks all that was honoured by Indian markets in Following manner today:-
1- Up moves were told again and again yesterday and Nifty closed 52.10 points up today.
2- Up moves above 7521 was told and Nifty closed above it at 7562.40 today.
3- Resistances above 7581 were updated and Nifty closed below it at 7562.40 today.
4- Sideways market between 7488-7640 was told and Nifty closed within this range after most time trading within this range.
Highly volatile trading within 165 points today with lower levels supports and higher levels selling therefore Indian markets will have prepare for next decisive moves between 7425-7640 because following supports and resistances are lying within this range:-
1- Supports between 7425-7458
2- Supports between 7488-7521
3- Resistances between 7552-7606
4- Resistances between 7614-7640
As sufficiently strong both supports and resistances between 7425-7640 therefore expected that Nifty will trade and prepare for next big moves within this range in the next 2/3 sessions. Let market prepare for break out direction then will be updated according to intraday charts patterns formations in the coming sessions Outlooks in the same manner as being done for the last more than 5 years.