Strong Possibilities of Up Moves above 8193
Intra Day Chart Analysis & Market Outlook
(16-11-2016)
Nifty-Intra Day Chart (15-Nov-2016):-
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1- More than 5 hours trading between 8121-8193
2- All the Down moves in Bullish Falling Channels
3- Whole day actual trading between 8094-9236
Conclusions from intra day chart analysis
102 points fall in first minute after huge gap down opening and more than 5 hours trading between 8121-8193 with all the Down moves in Bullish Falling Channels therefore signals of some up moves or Pull Back Rally. Consolidation was seen between 8180-8345 on 09-11-2016 but most time trading below it today with closing near the lower levels of the day which is an indication of on going correction continuation but intraday selling patterns were not seen and consolidation patterns formations today therefore Nifty will not sustain below today lowest and strong possibilities of up moves above 8193.