Firstly Watch Next Strong Supports after Gap Down Opening
Intra Day Chart Analysis & Market Outlook
(12-09-2016)
Nifty-Intra Day Chart (09-Sep-2016):-
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| Just click on chart for its enlarged view |
1- Selling between 8900-8922
2- Support between 8863-8888
3- Down moves in Bullish Falling Channel in last hour
4- Whole day actual trading between 8859-8922
Conclusions from intra day chart analysis
Following lines were told at 12:05 AM on 08-09-2016 in "Very Short Term Down Moves Expectations":-
clear Selling patterns formation also between 8935-8956 therefore Very Short Term down moves are expected in the coming sessions.
Following lines were told at 08:20 PM on 08-09-2016 in "Very Short Term Correction Expectations":-
Very Short Term correction is still expected in the coming sessions despite today closing near the higher levels of the day today.
Only Down Moves and Correction was told in last 2 Outlooks which proved 100% accurate last Friday through Nifty slipping 38 points in first minute and closing 85 points down also after whole day negative zone trading.
Firstly selling after weak opening and after that sharp fall as well but lower levels some supports and last hour Down moves in Bullish Falling Channel therefore day's intraday patterns will be understood Mixed. As both intraday selling and consolidation patterns formations last Friday therefore sustaining beyond day's actual trading range(8859-8922) should be firstly watched in the coming week for next decisive moves.
As US markets closed in deep Red last Friday therefore huge gap down opening may be seen next Monday but next strong supports are lying between 8768-8818 which will decide the fate of last Friday started correction.