Next resistancs will confirm correction completion
Intra Day Chart Analysis & Market Outlook
(13-03-2018)
Nifty-Intra Day Chart (12-Mar-2018):-
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1- Consolidation between 10314-10341
2- Strong up moves in last hours
3- Whole day actual trading between 10302-10433
Conclusions from intra day chart analysis
As all the Asian markets were blasting today morning therefore gap up strong opening and 3 hours consolidation between 10314-10341 therefore this range will be immediate support of Nifty.
Next resistances between 10379-10441 was updated yesterday in "Watch Levels amid correction continuation expectations" and Nifty closed within this range today. As today sharp rally was on the back of strong global cues therefore more confirmation is required for on going correction completion which will be after sustaining above following next resistance otherwise today up moves will be understood global markets reaction only but decisive down moves will be seen only after sustaining below 10314:-
1- Resistance between 10480-10520
2- Resistance between 10548-10587