Firstly Watch Levels amid some down moves expectations
Intra Day Chart Analysis & Market Outlook
(03-01-2017)
Nifty-Intra Day Chart (02-Jan-2017):-
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1- Consolidation between 8134-8155
1- 2 Hours up moves in Bearish Rising Channel
3- Whole day actual trading between 8134-8212
Conclusions from intra day chart analysis
Following lines were told yesterday in "Very Short Correction Expectations":-
very short correction is firstly expected in the beginning of next week
very short correction was told yesterday and most of the time negative zone trading and Red closing today.
Although firstly some consolidation at lower levels of the day but after that 2 hours up moves in Bearish Rising Channel also therefore today intraday trading patterns will be understood Mixed and firstly Nifty has to prepare for next decisive moves within and near about today trading range.
Although today closing near the higher levels of the day but sufficient selling patterns were also seen between 8134-8212 in last 2 sessions therefore view is not be Bullish and down moves are expected below 8134.
As valid break break out of 8134-8212 will be next decisive moves confirmation therefore should be firstly watched amid some down moves expectations.