Firstly Watch Levels after Korea news based last 2 sessions volatility
Intra Day Chart Analysis & Market Outlook
(31-08-2017)
Nifty-Intra Day Chart (30-Aug-2017):-
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1- Consolidation between 9869-9882
2- Selling between 9889-9909
3- Whole day actual trading between 9851-9909
Conclusions from intra day chart analysis
As UN Security Council unanimously condemned North Korea's firing of a ballistic missile and expressed "its commitment to a peaceful, diplomatic and political solution" therefore conclusion of no risk of immediate war resultant all the Asian markets were trading positive after Green closing of US markets while Dow's Futures was trading more than 120 points down during Indian markets trading hours yesterday.
Last 2 sessions trading was completely North Korea ballistic missile fire news based in which sharp down yesterday and strong recovery after strong opening today but some selling was also seen below 9909 today. As some consolidation also developed above 9869 therefore firstly valid break out of 9869-9909 should be watched tomorrow for next decisive moves towards(9782 or 9936)
Following lines were told on 27-08-2017 in "Firstly watch levels for correction continuation/completion" and being repeated as final conclusion after last 13 sessions sideways market:-
Previous 10 sessions trading between 9686-9948 and finally sustaining it beyond will decide the life of on going correction