Firstly correction continuation towards next supports
Intra Day Chart Analysis & Market Outlook
(09-10-2019)
Nifty-Intra Day Chart (07-Oct-2019):- |
| Just click on chart for its enlarged view |
1- More than 4 hours selling between 11186-11233(Immediate Resistances)
2- Sharp fall in last hour
3- Whole day actual trading between 11113-11233
Conclusions from intra day chart analysis
As more than 4 hours selling between 11186-11233 therefore it will be immediate resistance of Nifty and until Nifty will not sustain above it after complete consolidation till then decisive up moves will not be seen above last Monday highest.
As Short Term Correction is on and no signal of its completion yet as well as next supports below last Monday lowest are near 10700 therefore now correction continuation will be considered towards it and if fresh consolidation develops only then a Pull Back rally will be seen towards 11233 because Short Term Indicators have also turned oversold.