Levels will confirm Short Term Correction beginning
Intra Day Chart Analysis & Market Outlook
(21-07-2017)
Nifty-Intra Day Chart (20-Jul-2017):- |
| Just click on chart for its enlarged view |
1- Selling between 9895-9910
2- Mixed Patterns between 9864-9888
3- Whole day actual trading between 9864-9922
Conclusions from intra day chart analysis
Following lines were told yesterday in "Firstly watch levels for next trend":-
1- view will not be Bullish despite today closing near the higher levels of the day.
2- Next and strong resistances are between 9912-9928
3- Last 5 sessions trading between 9792-9928 with lower levels supports and higher levels selling and firstly sustaining beyond these levels should be watched for next trend.
As fresh selling between 9895-9910 today therefore down moves below today lowest(9863.45)can not be ruled out in the coming sessions but sustaining it below is must for Short Term Correction beginning confirmation because last 3 hours trading just above it with Mixed Patterns also between 9864-9888 today.