Up moves expectations towards next resistances
Intra Day Chart Analysis & Market Outlook
(23-05-2017)
Nifty-Intra Day Chart (22-May-2017):-
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| Just click on chart for its enlarged view |
1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 9428-9498
Conclusions from intra day chart analysis
Following lines were told on 20-05-2017 in "Firstly Watch Most Crucial Level in Next Week":-
1- firstly up moves are expected in next week
2- but within last Friday trading range(9391-9505).
As was told 100% same happened and:-
1- Nifty moved up 70 points in first minute today.
2- Nifty traded whole day within last Friday trading range(9391-9505) between 9427.90-9498.65 today.
Immediate supports of Nifty are as follows:-
1- 9427-9440
2- 9391-9425
3- 9373-9387
Next resistances of Nifty are as follows:-
1- 9479-9505
2- 9518-9532
Last 9 sessions most time trading within 9373-9532 with above mentioned supports and resistance but up moves are firstly expected tomorrow towards next resistances because Whole day consolidation today through Down moves in Bullish Falling Channels and follow up consolidation is also firstly required in the coming sessions to cross resistances.