Firstly Watch Levels for one sided decisive moves
Intra Day Chart Analysis & Market Outlook
(01-06-2017)
Nifty-Intra Day Chart (31-May-2017):-
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1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Volatility in last 2 hours
4- Whole day actual trading between 9610-9649
Conclusions from intra day chart analysis
Following lines were told on 29-05-2017 in "Firstly Watch Levels for Rally Continuation or Short Term Correction beginning":-
valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.
Nifty closed within mentioned range(9548-9637) in last 2 sessions with Mixed patterns formations and volatility was seen in last 2 hours also today therefore same view that valid break out of last 3 sessions trading range should be firstly watched in the coming sessions for on going rally continuation above 9649 or Short Term Correction beginning below 9548.
As sustaining beyond 9548-9649 will be break out of 3 sessions trading range and one sided decisive 2% moves will be seen therefore should be firstly watched in the coming sessions.