Just Watch Crucial Levels for next decisive moves confirmations
Intra Day Chart Analysis & Market Outlook
(17-01-2018)
Nifty-Intra Day Chart (16-Jan-2018):-
 |
| Just click on chart for its enlarged view |
1- Selling between 10739-10762
2- Selling between 10737-10747
3- Down moves in Bullish Falling Channel in last 2 hours
4- Whole day actual trading between 10688-10762
Conclusions from intra day chart analysis
Although strong closing after whole day positive zone trading yesterday but we cautioned and told following lines in "Levels will confirm next decisive moves":-
sustaining below today lowest will mean Short term correction beginning which should be firstly watched tomorrow.
Although today closing was below yesterday lowest after higher levels selling but consolidation was also seen in last 2 hours through Down moves in Bullish Falling Channel therefore today trading will be understood with Mixed patterns formations.
As lower levels conolidation and higher levels selling in last 2 sessions between 10688-10782 therefore Nifty has to prepare for next decisive moves within and near about this crucial range and finally sustaining it beyond should be watched in the coming sessions for Short term correction beginning or on going rally continuation.