Short Term correction beginning confirmation from levels
Intra Day Chart Analysis & Market Outlook
(31-10-2017)
Nifty-Intra Day Chart (30-Oct-2017):-
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| Just click on chart for its enlarged view |
1- Higher levels selling between 10370-10384
2- Whole day actual trading between 10345-10384
Conclusions from intra day chart analysis
Following lines were told on 27-10-2017 in "Watch Levels amid Rally continuation ":-
1- rally continuation will be expected in the beginning of next week
2- follow up moves and sustaining beyond 10339-10360 should also be firstly watched for sustaining above 10366.
Rally continuation was seen through strong opening and 40.60 points Green closing after whole day positive zone trading today. As follow up selling was seen between 10370-10384 today therefore Nifty could not sustain above 10366 and closed just above 10339-10360 at 10363.65 today which is between above mentioned levels of 10360 and 10366
As last 2 sessions higher levels selling therefore emergence of Short Term correction possibilities and its beginning confirmation will be sustaining below 10339 which should be firstly watched tomorrow.