Short Term Correction expectations
Intra Day Chart Analysis & Market Outlook
(01-11-2019)
Nifty-Intra Day Chart (31-Oct-2019):- |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channels
2- Selling between 11910-11923
3- Sharp fall in last hour
3- Whole day actual trading between 11856-11945
Conclusions from intra day chart analysis
As all the Asian markets were trading with good gains after FOMC rates cut therefore positive opening and 5 hours up moves but not sustaining at higher levels because most up moves were in Bearish Rising Channels and selling was seen in sideways trading also hence sharp fall in last hour.
Follow up selling today after some selling yesterday therefore Short Term Correction is expected tomorrow.