Intra Day Chart Analysis & Market Outlook(25-10-2016)
Nifty-Intra Day Chart (24-Oct-2016):-
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1- First 3 hours sideways trading with Mixed Patterns between 8691-8707
2- Up moves after strong opening of European markets
3- Loosing European markets led all gains in last 2 hours
4- Whole day actual trading between 8685-8736
Conclusions from intra day chart analysis
Although first 3 hours sideways trading with Mixed Patterns formations but up moves after strong opening of European markets and not sustaining at higher levels also despite no weakness in European markets and Dow's Futures. Only intraday volatility and as such no one sided intraday patterns formations today as well as closing within last 9 Sessions trading range(8507-8728) therefore still Nifty will be understood sideways and finally sustaining beyond this range will give next decisive moves confirmations.