Sideways market within Crucial levels for Post Budget Big Moves Preparations
Intra Day Chart Analysis & Market Outlook
(24-02-2016)
Nifty-Intra Day Chart (23-Feb-2016):- |
| Just click on chart for its enlarged view |
1- Nifty slipped 20 points in first 45 seconds
2- Whole day down moves
3- Whole day actual trading between 7091-7241
Conclusions from intra day chart analysis
Who told in whole India with such guarantee at 04:30 PM yesterday without watching FII & DII Trading Activity(it is always announced after 05:30 PM) and at that time also when all the Global markets were most Bullish and blasting but we told following lines yesterday in "High Possibility of Slipping below Today Lowest(7201)":-
1- high possibility of slipping below today lowest(7201) in the coming 1/2 sessions
2- despite following Bullish moves in all Global markets at this moment:-
1- Dow's Futures now trading with 188 points up.
2- All the European markets are now trading with 1.15% to 2.57% gains.
3- All the Asian markets closed in Green and 3 markets closed with more than 0.93% gains today.
As was told yesterday 100% same happened through Nifty slipping below 7201 in first 7 minutes today. Not only today but "Archive" at the bottom of this Blog is live proof of this fact that such accurate Indian Stock Markets Predictions are being daily done for the last more than 5 years. Anyone can verify this fact from the "Archive" at the bottom of this Blog.
Next supports of Nifty are as follows which are sufficiently strong also:-
1- 6965-7025
2- 6869-6945
Next resistances of Nifty are as follows;-
1- 7190-7202
2- 7213-7321
3- 7480-7512
4- 7556-7600
It is clear from above supports and resistances that sideways market is ahead between 6869-7321 and Nifty will firstly prepare within following crucial levels one by one for post Budget big moves:-
1- 6965-7252(next trend first indication)
2- 6869-7321(next trend confirmation)
Although whole day down moves today but at this moment it will be understood only a correction of previous 7 sessions Pull Back Rally between 6869-7252. It must be kept in mind that if follow up consolidation develops in the coming sessions then strong rally will certainly be seen after Union Budget on 29-02-2016.
Expected that Nifty will remain sideways in the coming sessions within above mentioned crucial levels and will prepare for post Budget big moves. Let market prepare then will be updated according to coming sessions intraday charts patterns formations.