Up moves above today highest
Intra Day Chart Analysis & Market Outlook
(09-01-2020)
Nifty-Intra Day Chart (08-Jan-2020):- |
| Just click on chart for its enlarged view |
1- Sharp up after gap down opening
2- Down moves in Bullish Falling Channel
3- Last 3 hours up moves with intraday corrections
4- Whole day actual trading between 11930-12044
Conclusions from intra day chart analysis
As Iran fired a number of missiles at two Iraqi bases housing US troops today morning therefore all the Asian markets including Dow Jones Futures crashed and Crude oil jumped hence Indian markets opened gap down.
Although sentiment was completely depressed today but firstly Indian markets jumped from lower levels and whole day consolidated firstly through Down moves in Bullish Falling Channel and after that last 3 hours up moves with intraday corrections therefore Indian markets are technically well prepared for up moves above today highest(12,044.95)