Levels will confirm next Trend
Intra Day Chart Analysis & Market Outlook
(28-12-2017)
Nifty-Intra Day Chart (27-Dec-2017):-
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1- More than 5 hours selling between 10532-10552
2- Sharp fall in last hours
3- Whole day actual trading between 10470-10552
Conclusions from intra day chart analysis
Following lines were told yesterday in "Finally on going rally continuation":-
1- finally on going rally continuation is expected
2- intraday volatility and Very Short term correction can not be ruled
3- until Nifty will not sustain below today lowest(10478) after complete follow up selling till then decisive down moves will not be seen.
Alrhough firstly rally continuation but more than 5 hours higher levels selling between 10532-10552 therefore sharp fall in last hours and closing near the lower levels of the day.
Last 2 sessions trading between 10470-10552 with good consolidation between 10478-10506 on 26-12-2017 and equally good selling between 10532-10552 on 27-12-2017 therefore firstly Nifty has to trade and prepare for next decisive moves between 10470-10552 and finally sustaining beyond this range will confirm trend.
As Short term indicators have turned over bought and higher levels good selling also on 27-12-2017 therefore Short term correction beginning may be seen any day and firstly sustaining below 10470 should be watched for confirmations.