Today started correction continuation expectations
Intra Day Chart Analysis & Market Outlook
(12-05-2017)
Nifty-Intra Day Chart (11-May-2017):-
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| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel
2- Selling between 9446-9450
3- Selling between 9436-9445
4- Whole day actual trading between 9412-9450
Conclusions from intra day chart analysis
Very Short Term Correction possibility was told yesterday and Nifty closed near the intraday lower levels of the day today after higher levels good selling therefore firstly today started correction continuation is expected tomorrow,
As good intraday consolidation above 9374 yesterday and equally good selling below 9450 today therefore Nifty will firstly slip towards 9374 and prepare for next decisive moves within 8374-9450 as well as valid break out this range will decide next trend which should be watched in the coming sessions.