Emergence of Short Term correction expectations
Intra Day Chart Analysis & Market Outlook
(18-10-2017)
Nifty-Intra Day Chart (17-Oct-2017):-
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| Just click on chart for its enlarged view |
1- Support between 10213-10227
2- Selling between 10242-10251
3- Whole day actual trading between 10213-10251
Conclusions from intra day chart analysis
Following lines were told yesterday in "Firstly watch levels next decisive moves confirmations":-
1- View will be cautious(not Bullish)
2- firstly sustaining beyond today trading range should be watched for next decisive moves confirmations.
Cautious view and not Bullish was told and Nifty closed flat today with most time trading within yesterday trading range(10176-10142) with higher levels selling and lower levels supports therefore still expected that Nifty will firstly trade tomorrow between 10200-10251 and prepare for next decisive moves within this range.
As higher levels clear selling in last 2 sessions therefore emergence of Short Term correction expectations and valid break down of 10200 will mean deeper correction towards following next supports:-
1- 10154-10166
2- 10024-10046