Firstly watch levels for next trend confirmations
Intra Day Chart Analysis & Market Outlook
(24-12-2019)
Nifty-Intra Day Chart (23-Dec-2019):- |
| Just click on chart for its enlarged view |
1- Selling between 12259-12287
2- Consolidation between 12214-12243
3- Sharp recovery in last hour
4- Whole day actual trading between 12214-12287
Conclusions from intra day chart analysis
As most time selling between 12266-12293 last Friday therefore Nifty could not move above it today and follow up selling was also seen within it today hence down moves were seen in 3 last hours.
Although sentiment turned much depressed during Mid-Session today due to BJP loosing Jharkhand Assembly election but consolidation developed amid this negative news and resultant sharp recovery was seen in last hour.
As last 2 Sessions trading between 12214-12293 with lower levels negative news led good support today and higher levels selling in last 2 sessions within it therefore firstly Nifty will trade and prepare for next decisive moves within and near about this range tomorrow and finally sustaining beyond this range will confirm next trend which should be firstly watched in the coming sessions.