7443-7527 Will decide Next More than 2% One Sided Moves
Intra Day Chart Analysis & Market Outlook
(09-03-2016)
Nifty-Intra Day Chart (08-Mar-2016):- |
| Just click on chart for its enlarged view |
1- Minor selling between 7443-7456
2- Minor support between 7506-7527
3- Whole day actual trading between 7443-7527
Conclusions from intra day chart analysis
Following conclusive lines were told in previous 3 Outlooks on 04-03-2016:-
1- Selling between 7470-7488
2- very Short Term correction possibility towards post Budget rally retracement levels
3- Nifty will firstly trade and prepare for next decisive moves within or near about 7444-7512 in the beginning of next week.
As was told 100% same happened in following manner today:-
1- Nifty could not sustain at higher levels because selling was seen between 7470-7488 on 04-03-2016 and very Short Term 84 points correction from higher levels was seen today.
2- Trading within or near about 7444-7512 was told and Nifty traded within or near about this range between 7442.15-7527.15 as well as closed also within this range at 7481.35 today.
Following resistances were updated at 12:2300 AM on 03-03-2016 in"Pull Back Rally continuation Expectations "
1- 7480-7512
2- 7556-7600
Nifty hovered around 1st resistance range in last 2 sessions with trading between 7443-7527 and valid break out of today trading range will generate more than 2% one sided moves because that will confirm the strength of resistance range.
As both higher levels minor selling and lower levels minor supports as well as Doji(indecision) Candle formations today therefore today trading will be again understood with Mixed Patterns formations between 7443-7527 and Nifty has to prepare for next decisive moves within and near about this range.
Let Nifty prepare for next decisive moves between 7443-7527 then will be updated from intraday charts patterns formations in the same manner as being done for the last more than 5 years because our policy is "No gossiping never guessing and whatsoever market suggest,only that is always updated".