Next decisive moves confirmations through levels
Intra Day Chart Analysis & Market Outlook(18-02-2020)
Nifty-Intra Day Chart (17-Feb-2020):- |
| Just click on chart for its enlarged view |
1- Sharp down after positive opening
2- Whole day Down moves in Bullish Falling Channels
3- Whole day actual trading between 12037-12159
Conclusions from intra day chart analysis
Following lines were told on 15-02-2020 in "Strong signals of deeper correction beginning from next week":-
fresh down moves are expected below last Friday lowest(12,091.20) in the beginning of next week
As was told 100% same happened and Nifty closed at 12,045.80 today.
Although today closing was near the lower levels of the day after whole day continuous slipping from higher levels but most of the down moves were Bullish Falling Channels which is
indicating consolidation and suggesting up moves.
As most of the Global markets with Dow Jones's futures traded and closed in positive zone today while Indian markets most time traded and closed in negative zone therefore under performance by Indian markets will be understood which is indicating selling and suggesting down moves also.
Finally whole day today trading will be understood Mixed Patterns formation between 12037-12121 and firstly sustaining beyond this range should be watched tomorrow for next decisive moves confirmations.