Firstly watch levels amid crashing
US markets
US markets
Intra Day Chart Analysis & Market Outlook
(04-Dec-2019)
Nifty-Intra Day Chart (03-Dec-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 11957-11988
3- Whole day actual trading between 11957-12068
Conclusions from intra day chart analysis
As Dow Jones closed more than 250 points down yesterday therefore down moves started after positive opening. First 2 hours trading was with Down moves in Bullish Falling Channel and last 4 hours trading was with consolidation patterns formations between 11957-11988 therefore technically Indian markets are prepared for decisive up moves above today highest(12068).
Dow Jones is trading more than 450 points today and such weak closing will mean Indian markets will firstly react through opening below 12000. As Indian markets will have to react in next 2 days on RBI Credit Policy and crashing US markets therefore firstly reaction of these 2 developments will have to be understood during trading hours and Outlook will be formed accordingly as well as following levels will have to be watched for confirmations:-
1- Firstly sustaining beyond 11950 should be watched tomorrow after US markets led weak opening.
2- Below 11950 will mean deeper correction beginning.
3- Above 11950 will mean firstly watching sustaining above 12000 for fresh up moves beginning confirmations.
Finally Credit Policy announcements will decide Short Term Trend therefore should also be watched in next 2 days amid US markets led depressing sentiments.