9183 will confirm fresh down moves beginning
Intra Day Chart Analysis & Market Outlook
(12-05-2020)
Nifty-Intra Day Chart (11-May-2020):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- 2 Hours Slow up moves in Mid-session
3- Whole day actual trading between 9220-9439
Conclusions from intra day chart analysis
Following lines were told on 09-05-2020 in "Watch levels with expectations of up moves towards next resistances ":-
1- firstly sustaining beyond 9183-9450 will be watched in the coming week
2- just watch above levels with expectations of up moves towards next resistances.
As was told 100% same happened because up moves expectations was told and upper levels was given at 9450 was given and up moves upto 9439.90(just below 9450) was seen today.
Although today closing was at lower levels of the day but all the Down moves were in Bullish Falling Channels therefore indications of some up moves also. As some selling also can not be ruled out in Mid-session through 2 Hours Slow up moves and today down moves were due to 300 points fall of Dow Jones Futures during Indian trading hours therefore firstly sustaining beyond 9183 should be watched for decisive down moves beginning confirmations.