Intra Day Chart Analysis & Market Outlook(03-06-2016)
Nifty-Intra Day Chart (02-Jun-2016):-
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1- 5 Hours trading with Mixed Patterns between 8155-8185
2- Slow up moves in last hours
3- Whole day actual trading between 8155-8229
Conclusions from intra day chart analysis
Last 3 sessions sideways trading with mixed patterns formations between 8144-8215 and this range was broken out today but without force because last hours up moves which crossed 8215 were slow today. As first 5 hours today trading was also with mixed patterns formations therefore last 3 sessions break out confirmation is still required through sustaining above 8215/8229.
Although today closing near the higher levels of the day above last 3 sessions trading range(8144-8215) but immediate fresh rally will be understood only after the confirmation of sustaining above 8215/8229,let it happen otherwise Nifty will remain sideways between 8144-8215/8229.