Firstly sideways trading and finally rally
Intra Day Chart Analysis & Market Outlook
(03-05-2019)
Nifty-Intra Day Chart (02-May-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 11749-11789(immediate resistances)
2- Whole day actual trading between 11700-11789
Conclusions from intra day chart analysis
As higher levels intraday selling today therefore finally slipping and closing at the lower levels of the day today but sharp down moves are not expected tomorrow because following strong supports also lying below today lowest:-
1- 11662-11693
2- 11550-11611
As previous supports are between 11662-11693 and immediate resistances are between 11749-11789 therefore expected that firstly Nifty will trade sideways and prepare for next decisive moves between(11662-11789) and sustaining it beyond will confirm next trend but expected that finally strong rally will be seen after follow up consolidation in the coming sessions.