Firstly Watch Most Crucial Level in Next Week
Intra Day Chart Analysis & Market Outlook
(22-05-2017)
Nifty-Intra Day Chart (19-May-2017):-
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1- Selling between 9479-9505
2- 2 Hours down moves
3- Consolidation between 9391-9425
4- Whole day actual trading between 9391-9505
Conclusions from intra day chart analysis
As positive Asian markets and in reaction good up moves after Green opening but selling at higher levels also therefore after that 2 hours more than 100 points down moves. Although slipping below 9400 but good consolidation at lower levels of the day therefore firstly up moves are expected in next week but within last Friday trading range(9391-9505).
Following conclusive lines were told on 18-05-2017 in "Firstly watch immediate Supports for the life of today started correction continuation/completion":-
firstly valid break out of above mentioned immediate support ranges(9427-9472) should be watched for the life of today started correction continuation/completion.
Immediate supports Were told above 9427 and Nifty closed at 9427.90 yesterday as well as good consolidation was seen just below it between 9391-9425 therefore these supports levels has become most crucial. Above mentioned supports should be firstly watched amid on going correction because until Nifty will not sustain below them after complete fresh selling till then decisive down moves will not be seen and finally sustaining above 9427 will mean rally continuation after correction completion yesterday.