Very short term correction expectations
Intra Day Chart Analysis & Market Outlook
(18-05-2017)
Nifty-Intra Day Chart (17-May-2017):-
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| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channels
2- Selling between 9518-9532
3- Whole day actual trading between 9487-9532
Conclusions from intra day chart analysis
Although today closing near the higher levels of the day but sufficient intraday selling patterns formations today therefore very short term correction is expected tomorrow. As following supports are lying therefore until Nifty will not sustain below them after follow up selling till then decisive down moves will not be seen:-
1- 9462-9472
2- 9427-9440