Up moves after consolidation
Intra Day Chart Analysis & Market Outlook
(13-12-2019)
Nifty-Intra Day Chart (12-Dec-2019):- |
| Just click on chart for its enlarged view |
1- More than 4 hours consolidation between 11940-11964
2- Slow up moves in last 2 hours
3- Slipping in last high hour
4- Whole day actual trading between 11935-12005
Conclusions from intra day chart analysis
As most Asian markets were trading strong therefore positive opening and firstly more than 4 hours consolidation between 11940-11964 and some up moves were also seen after that. Although moving above 12000 but slipping in last high hour because up moves were slow therefore some sellling developed at higher levels near about 12000.
Lower levels good consolidation today therefore up moves towards next resistances(12038-12081) may be seen but higher levels some selling was also seen today therefore firstly Nifty has to trade and consolidate for these up moves near about today highest(12005) because only then these up moves will be seen.