Intra Day Chart Analysis & Market
Outlook(30-06-2016)
Nifty-Intra Day Chart (29-Jun-2016):-Outlook(30-06-2016)
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1- First 3 hours trading with mixed Patterns formations between 8158-8186
2- Last 3 hours up moves after strong opening and continuous Rally of European markets
3- Whole day actual trading between 8158-8212
Conclusions from intra day chart analysis
As most Asian markets were trading strong today morning after Dow's rally of 269 points yesterday therefore strong gap up opening of Indian markets but traded sideways between 8158-8186 with mixed Patterns formations because both Up moves in Bearish Rising Channel and Down moves in Bullish Falling Channel were seen within this range.
Although today closing near the higher levels of the day but on the back of continuous more than 01.50% Rally of European markets after strong gap up opening. As Indian markets under performed Global markets and as such good intraday consolidation patterns were also not seen today therefore next trend will be decided according to fresh intraday trading patterns formations in the coming sessions.
As all the Global markets are highly volatile in this week after Braxit referendum and technical positions reverses also in such high volatility therefore sustaining beyond those next supports and resistances will decide next trend which have already been updated at 11:54 AM today in "Next Trend Confirmations from Supports & Resistances after Braxit led High Global markets Volatility"