Firstly watch 11100-11428 amid Corona Virus led all Global markets high uncertainty and volatility
Intra Day Chart Analysis & Market Outlook
(04-03-2020)
Nifty-Intra Day Chart (03-Mar-2020):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Last 3 hours up moves with downward corrections
3- Whole day actual trading between 11153-11342
Conclusions from intra day chart analysis
As all the Asian markets were trading strong after more than 4% US markets rally yesterday therefore good opening of Indian markets and consolidated also whole day firstly through Down moves in Bullish Falling Channels and after that last 3 hours up moves with downward corrections hence Indian markets will be understood well prepared for more up moves.
Nifty traded 5 Hours with Mixed Patterns formation between 11315-11428 yesterday therefore more follow up consolidation is firstly required for strong rally above 11428. As all Global markets are being affected from Corona Virus news therefore its next developments should also be firstly watched tomorrow.
Supports range between 11100-11144 was updated on 29-02-2020 and it was repeated yesterday also . As supports above 11100 and resistances below 11428 therefore firstly Nifty will trade within 11100-11428 and finally sustaining beyond this range will confirm next big moves and that will be according to next big developments of Corona Virus which should be firstly watched amid this disease led high uncertainity and volatility in all Global markets.