Firstly watch immediate good supports
Intra Day Chart Analysis & Market Outlook
(11-03-2020)
Nifty-Intra Day Chart (09-Mar-2020):- |
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1- 430 Points down in first half hour
2- More than 2 hours selling between 10527-10590(Immediate Resistances)
3- 200 Points fall in Mid-session
4- Consolidation between 10295-10392(Immediate Supports)
5- Up moves in last 2 hours
6- Whole day actual trading between 10295-10751
Conclusions from intra day chart analysis
As all the Global markets were crashing therefore slipping after huge gap down opening and loosing 430 Points in first half hour. Although 200 Points fall in Mid-session after more than 2 hours selling between 10527-10590 but up moves were seen in last 2 hours after lower levels consolidation between 10295-10392.
As last 2 hours up moves started exactly after more than 7% down opening of most European markets(after 01:30 PM) and some consolidation was also seen at lower levels just before it between 10295-10392 therefore it will be understood that Indian markets out performed after getting good supports and firstly sustaining it beyond should be watched in the coming sessions for stopping/continuation of on going correction amid Corona Virus news led volatile Global markets. Let correction stop and Nifty to consolidate near about 10295-10392 then more decisive up moves will be considered and will be seen as well.