Bounce Back Expectations above 7090
Intra Day Chart Analysis & Market Outlook
(12-02-2016)
Nifty-Intra Day Chart (11-Feb-2016):- |
| Just click on chart for its enlarged view |
1- Whole day down moves after weak opening
2- Bullish Falling Wedge formations in last 2 hours
3- Whole day actual trading between 6960-7208
Conclusions from intra day chart analysis
Following lines were told on 06-09-2015 in "Next Target of Nifty at 7104.30":-
All trends are down and Indian markets are in stiff grip of Bears as well as high possibility of correction continuation towards 7104.30.
As was told on 06-09-2015 all that proved 100% accurate today through Nifty slipping below 7104.30. Target of Nifty at 7104.30 was repeated also more than 10 times in previous Outlooks.
Whole day down moves after weak opening and closing near the lower levels of the day today but Bullish Falling Wedge formations in last 2 hours therefore Bounce back is expected above 7090 because Short Term Oscillators have also turned Oversold.