ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
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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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
Firstly watch levels next decisive moves confirmations
Intra Day Chart Analysis & Market Outlook
(17-10-2017)
Nifty-Intra Day Chart (16-Oct-2017):-
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| Just click on chart for its enlarged view |
1- Selling Patterns formation between 10122-10142
2- Minor supports at lower levels
3- Whole day actual trading between 10176-10142
Conclusions from intra day chart analysis
Although today closing near the higher levels of the day after lower levels minor supports but higher levels selling Patterns formations also in the beginning and last trading hours therefore view will be cautious(not Bullish) and firstly sustaining beyond today trading range should be watched for next decisive moves confirmations.
Rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(16-10-2017)
Nifty-Intra Day Chart (13-Oct-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation between 10140-10171
2- Last more than 2 houts trading with mixed Patterns formation between 10161-10191
3- Whole day actual trading between 10125-10191
Conclusions from intra day chart analysis
Following lines were told on 12-10-2017 in "Rally continuation towards next strong resistances":-
on going rally continuation is expected towards next strong resistances(10140-10171) in the coming sessions.
Strong resistances were told between 10140-10171 and firstly Nifty consolidated 4 hours within this range last Friday before new life time high formations. As last more than 2 houts trading with mixed Patterns formation between 10161-10191 and closing also within it after last 45 minutes slipping from higher levels therefore Nifty has to consolidate within and near about this range for decisive up moves above life time high(10191.90).
As first 4 hours good consolidation last Friday therefore on going rally continuation is expected in the beginning of next week but follow up consolidation is must for sustaining above 10191.90.
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