Deeper correction below 8150
Intra Day Chart Analysis & Market Outlook
(16-12-2016)
Nifty-Intra Day Chart (15-Dec-2016):-
 |
| Just click on chart for its enlarged view |
1- Strong recovery after weak opening
2- Selling between 8168-8224
3- Selling between 8165-8200
4- Whole day actual trading between 8122-8224
Conclusions from intra day chart analysis
Although strong recovery after weak opening but higher levels selling developed and follow up selling was again seen in last hours therefore down moves are expected in the coming sessions.
As next supports are at 8150 therefore once sustaining below it will mean fresh and deeper correction possibility can not be ruled out towards following next supports:-
1- 8063-8083
2- 7916-7995(Multiple strong supports)