Firstly watch next 3 supports for the life of today started Global markets led correction
Nifty-Intra Day Chart Analysis &
Market Outlook(26-11-2020)
Nifty-Intra Day Chart (25-Nov-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 13118-13145(immediate Resistances)
2- Sharp fall
3- Selling between 12965-13035(immediate Resistances)
4- Sharp fall
5- Falling Wedge formation in last hour
6- Whole day actual trading between 12834-13145
Conclusions from intra day chart analysis
Although Asian markets were mixed but Indian markets opened strong and traded with good gains also. Some selling was seen in first hour but as soon as Dow's Futures started to slip then sharp fall was seen.
As follow up selling between 12965-13035 in Mid-session therefore again sharp fall after weaker opening of all European markets but some consolidation was seen in last hour through Falling Wedge formation.
Next supports below today closing are as follows:-
1- 12840-12886
2- 12737-12782
3- 12605-12690
As Dow Jones is now trading more than 175 points down and now a days all the Global markets are following US markets therefore firstly sustaining beyond above mentioned next 3 supports should be watched in the coming sessions for the life of today started Global markets led correction.