Correction Completion Confirmation will be above 8728 after Strong Global cues led Today Rally
Intra Day Chart Analysis & Market Outlook
(19-10-2016)
Nifty-Intra Day Chart (18-Oct-2016):-
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1- First 3 hours sideways trading after strong Asian markets led positive opening.
2- Strong up moves in last 3 hours after sharp rally in all the European markets and Dow's Futures.
3- Whole day actual trading between 8556-8685
Conclusions from intra day chart analysis
Today whole day trading will be understood on the back of strong Global cues because firstly 3 hours sideways trading after strong Asian markets led positive opening and after that last 3 hours sharp up moves on the back of sharp rally in all European markets and Dow's Futures.
As Nifty crossed first resistance range(8605-8654) on the back of such strong Global cues therefore firstly sustaining above 8654 and crossing of next resistance range(8698-8728) is must for the confirmation of that correction completion which started on 07-09-2016 from 8968.70.