Firstly Watch Crucial Levels after Mauritius treaty like Big Event
Intra Day Chart Analysis & Market Outlook
(12-05-2016)
Nifty-Intra Day Chart (11-May-2016):- |
| Just click on chart for its enlarged view |
1- Mauritius treaty news led high volatility
2- Slipping 106 points in first minute after gap down opening.
3- Recovering 112 points from lower levels in first 3 hours and trading in positive zone also.
4- slipping 78 points in next one hour
5- Whole day actual trading between 7781-7893
Conclusions from intra day chart analysis
As whole day only volatility on that Mauritius treaty news which may have long term impact on the inflows towards Indian Stock markets therefore no view can be formed only from that 1 day highly volatile intraday charts because technical positions reverses during such high intraday volatility also.
Now we shall try to understand Indian markets through from EOD charts,levels and Trends. Correction of post Budget 2016-17 rally is still on and Long Term Trend will be understood up because last 3 sessions closing above its decider 200 Day EMA(today at 7779) but Intermediate and Short Term Trends are sideways between 7678-7992 because last 18 sessions trading within this range.
Next supports of Nifty are as follows:-
1- 7810-7855
2- 7678-7730
Next resistances of Nifty are as follows:-
1- 7850-7890
2- 7900-7932
3- 7954-7992
Although first strong indication of next big moves will be from sustaining beyond Long Term Trend decider 200 Day EMA(today at 7779) but let Indian markets prepare after Mauritius treaty for next decisive moves between 7678-7992 then next trend 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".