Levels will confirm next decisive moves
Intra Day Chart Analysis & Market Outlook
(16-01-2018)
Nifty-Intra Day Chart (15-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel
2- Down moves in Bullish Falling Channel
3- Minor selling in last hour
4- Whole day actual trading between 10714-10782
Conclusions from intra day chart analysis
Although whole day positive zone trading after gap up opening and strong closing as well but both consolidation and selling patterns formations also therefore firstly market has to prepare for next decisive moves within and near about today trading range and finally sustaining beyond will confirm Short term correction below 10714 and on going rally continuation above 10782.
As Short term indicators are over bought and some selling also seen today therefore follow selling and sustaining below today lowest will mean Short term correction beginning which should be firstly watched tomorrow.