Correction Completion Signals at 7927.05 Last Friday
Intra Day Chart Analysis & Market Outlook
(28-06-2016)
Nifty-Intra Day Chart (27-Jun-2016):- |
| Just click on chart for its enlarged view |
1- Whole day volatility only
2- Whole day actual trading between 8040-8120
Conclusions from intra day chart analysis
As whole day volatility only and as such no intraday pattern formations therefore no view can be formed from only intraday charts of today but Indian markets completely out performed European markets and Dow's Futures because these markets were in deep Red but Nifty closed with minor gains. European markets and Dow's Futures were trading in following manner just before the closing of Indian markets:-
1- DAX was trading 131.66(-1.38%) points down
2- FTSE 100 was trading 77.69(-1.27%) points down
3- CAC 40 was trading 55.23(-1.34%) points down
4- Dow's Futures was trading 81.0 points down
As almost whole day today trading was above previous 20 sessions trading range lowest(8064-8295) and today closing was also above 8064 despite deep Red European markets and Dow's Futures therefore fresh buying on the back of depressed sentiments can not be ruled out today.
As Brexit news led heavy selling in most Global markets therefore view will be cautious and firstly sustaining beyond 8064 should be watched in the coming sessions for those decisive moves which have already been updated in previous Outlook yesterday but emergence of on going correction completion signals at 7927.05 last Friday after complete out performance by Indian markets today.