Today lowest will confirm decisive down moves
Intra Day Chart Analysis & Market Outlook
(11-07-2019)
Nifty-Intra Day Chart (10-Jul-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 11565-11593
2- Selling between 11514-11538
3- Selling between 11527-11532
4- Minor buying at lower levels through Down moves in Bullish Falling Channels
5- Whole day actual trading between 11476-11593
Conclusions from intra day chart analysis
Although firstly up moves immediately after opening but fresh selling developed just below yesterday mentioned 1st resistance range(11607-11638) and after that slipping into negative zone.
As follow up selling also developed after higher levels selling therefore emergence of some more down moves expectations but minor buying at lower levels through Down moves in Bullish Falling Channels also hence firstly sustaining below today lowest should be watched for decisive down moves.
Nifty and Bank Nifty weekly expiry tomorrow and higher levels huge selling in first 4 sessions of this week therefore lowest of "Modi ji's Victory gap" (11426-11591) should also be watched because once filling of this gap after slipping below 11426 will mean strong signal of sharp fall and deeper correction beginning.