Finally 2 trading ranges will confirm next big moves
Intra Day Chart Analysis & Market Outlook
(17-04-2020)
Nifty-Intra Day Chart (16-Apr-2020):-
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| Just click on chart for its enlarged view |
1- Up moves with downward corrections
2- Selling between 8997-9053
3- Whole day actual trading between 8822-9053
Conclusions from intra day chart analysis
Although today closing was near the higher levels of the day but higher levels selling was seen between 8997-9053 therefore follow up selling is must for decisive down moves below today lowest because first 4 hours today up moves were with intraday corrections.
Last 5 sessions trading between 8654-9261 and most time trading within this range is between 8905-9128 therefore finally sustaining beyond these 2 trading ranges should be watched one by one in the coming sessions/weeks for next big moves beginning confirmations.