Firstly watch levels for the life of on going correction
Intra Day Chart Analysis & Market Outlook
(16-05-2019)
Nifty-Intra Day Chart (15-May-2019):- |
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1- Mixed Patterns formation between 11202-11286
2- Sharp fall in last hour
3- Whole day actual trading between 11137-11286
Conclusions from intra day chart analysis
Although almost whole day positive zone trading but sharp fall in last hour because fast slipping of Dow Jones's Futures and all European markets was seen in last hour.
As good consolidation between 11109-11155 yesterday therefore it will be immediate supports of Nifty but more than 5 hours trading with Mixed Patterns formation between 11202-11286 also today hence Nifty has to trade and prepare for next decisive moves within 11109-11286.
Correction is on and no confirmation of its completion yet as well as all the Global markets are dancing on the tunes of US-China trade war therefore firstly sustaining beyond 11109-11286 should be watched in the coming sessions for the life of on going correction because indian markets will have to react in next week on Exit Poll results and Election results also.