Emergence of Short Term but Sharp correction Possibility
Intra Day Chart Analysis & Market Outlook
(22-06-2016)
Nifty-Intra Day Chart (21-Jun-2016):- |
| Just click on chart for its enlarged view |
1- Whole day sideways trading within 30 points
2- Minor selling between 8221-8230
3- Whole day actual trading between 8203-8233
Conclusions from intra day chart analysis
As whole day sideways trading with minor selling between 8221-8230 therefore emergence of some down moves possibilities below day's lowest (8202.15). Brexit picture will be clear after 23-06-2016 and till then its uncertainty led Global markets high volatility can not be ruled out.
As some indications of selling in last 2 sessions and selling patterns formations were seen today also therefore Short Term but sharp correction may be seen any day before or after Brexit decision despite Bullish European markets and Dow's Futures more than 60 points up at this moment as well as most Asian markets closing with good gains today.