11948 will confirm fresh rally towards next resistances

Intra Day Chart Analysis & Market Outlook

(19-02-2020)

Nifty-Intra Day Chart (18-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 50 Points down in first 3 minutes
2- Down moves in Bullish Falling Channels
3- Up moves with downward corrections
4- Consolidation between 11909-11948
5- Whole day actual trading between 11909-12030

Conclusions from intra day chart analysis 

As all the Asian markets and Dow's Futures were in deep Red therefore Nifty slipped 50 Points in first 3 minutes but after that next 4 hours Down moves were in Bullish Falling Channels therefore some consolidation developed at lower levels hence next 2 hours Up moves were seen.

Last 2 hours Up moves were with downward corrections therefore consolidation will be understood between 11909-11948 and it will be immediate supports on Nifty and until Nifty will not sustain below it after fresh selling till then decisive down moves will not be seen.

When Indian markets closed at that time all the European markets were trading more than 0.50% down and Dow'Jones future was also trading more 120 points weak but Indian markets recovered more that 100 points from lower levels therefore finally if Nifty sustains above 11948 amid Corona virus fear then fresh up moves will be seen towards following resistances:-

1- 12124-12183
2- 12194-12246

Next decisive moves confirmations through levels

Intra Day Chart Analysis & Market Outlook(18-02-2020)

Nifty-Intra Day Chart (17-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp down after positive opening
2- Whole day Down moves in Bullish Falling Channels
3- Whole day actual trading between 12037-12159

Conclusions from intra day chart analysis 

Following lines were told on 15-02-2020 in "Strong signals of deeper correction beginning from next week":-

fresh down moves are expected below last Friday lowest(12,091.20) in the beginning of next week

As was told 100% same happened and Nifty closed at 12,045.80 today.

Although today closing was near the lower levels of the day after whole day continuous slipping from higher levels but most of the down moves were Bullish Falling Channels which is 
indicating consolidation and suggesting up moves.

As most of the Global markets with Dow Jones's futures traded and closed in positive zone today while Indian markets most time traded and closed in negative zone therefore under performance by Indian markets will be understood which is indicating selling and suggesting down moves also.

Finally whole day today trading will be understood Mixed Patterns formation between 12037-12121 and firstly sustaining beyond this range should be watched tomorrow for next decisive moves confirmations.

Strong signals of deeper correction beginning from next week

Technical Analysis,Research & Weekly Outlook

(Feb 17 to Feb 21,2020)

Nifty-EOD Chart Analysis 

(Waves structure)

Nifty-EOD Chart (14-Feb-2020):-

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Technical Patterns and Formations in EOD charts

1- Impulsive Wave-1 beginning from 6825.80 on 29-02-2016 after 1 financial year(2015-16) correction completion.
2- Impulsive Wave-1 completion at 8968.70 on 07-09-2016 and corrective Wave-2 beginning
3- Corrective Wave-2 completion at 7893.80 on 26-12-2016 and impulsive Wave-3 beginning
4- Impulsive Wave-3 completion at 11760.20 on 28-08-2018 and corrective Wave-4 beginning
5- Corrective  Wave-4 completion at 10004.55 on 26-10-2018 and impulsive Wave-5 beginning
6- Impulsive Wave-5 continuation with new life time high formation at 12430.50 on 20-01-2020

Nifty-EOD Chart Analysis 

(Wave-iii of Wave-5 structure)

Nifty-EOD Chart (14-Feb-2020):-

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Technical Patterns and Formations in EOD charts

1- Corrective Wave-ii of Wave-5 completion at 10637.10 on 23-08-2019 and impulsive Wave-iii beginning
2- Impulsive Wave-iii of Wave-5 continuation with recent top formations at 12430.50 on 20-01-2020
3- Wave-A completion at 11614.50 on 03-02-2020
4- Wave-B completion at 12246.70 on 14-02-2020

Nifty-Intra Day Chart Analysis 

(14-Feb-2020)

Nifty-Intra Day Chart (14-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 12194-12246
2- Sharp fall
3- Selling between 12124-12183
4- Whole day actual trading between 12092-12246

Conclusions from EOD chart analysis 

1- Long Term Trend is up after moving above its decider 200 Day SMA(today at 11663.40)
2- Intermediate Term Trend sideways.
3- Short Term Trend has turned sideways.

Conclusions from EOD chart(Impulsive Wave-iii of Wave-5) analysis 

Although impulsive Wave-iii of Wave-5 continuation with recent top formations at 12430.50 on 20-01-2020 but its correction is on of which Wave-A completed at 11614.50. Now its Wave-B continuation with signals of its completion at 12246.70 on 14-02-2020 because last Friday lowest was below the lowest of last 4 sessions after same day new top formations of Wave-B at 12246.70.

Conclusions from intra day chart analysis 

Although strong up move after positive opening but selling developed in first hour therefore sharp fall was seen in Mid-Session. 3 Hours follow up selling was also seen after that therefore almost whole day trading will be understood with good selling hence fresh down moves are expected below last Friday lowest(12,091.20) in the beginning of next week.

Conclusions

 (After Putting All Studies Together)

As Nifty-EOD Chart Analysis(5th Wave structure) has already been updated in previous weekly Outlook(Feb 10 to Feb 14,2020) therefore waves structure of its Wave-iii of Wave-5 has been updated in next week weekly Outlook because that is in continuation now.

Following line was told on 08-02-2020 in "Firstly watch level in next week for the life and length of expected correction":-

until Nifty will sustain above 12216 till then correction completion will not be considered.

Although Nifty moves up to 12246.70 but could not sustain and sharp fall was seen last Friday as well as Nifty closed at 12113.45 after loosing 133 points from higher levels.

Wave-B of Wave-iii of Wave-5 continuation with recent top formation at 12246.70 last Friday but slipped sharply same day from there and formed last 4 sessions lowest at 12091.20 and closed also just above last 4 sessions lowest therefore it will be understood strong signal of Wave-C formation in next week for slipping below the bottom of Wave-A(11614.50)

Firstly sustaining beyond 12099 should be watched next Monday because sustaining below it will mean sharp fall towards following next supports:-

1- 11983-12021
2- 11922-11951
3- 11615-11705

As strong signals of  Wave-C formation developed last Friday therefore correction is expected in next week which may be deeper also.

Watch 12140-12180 for next decisive moves amid Coronavirus fear

Intra Day Chart Analysis & Market Outlook

(14-02-2020)

Nifty-Intra Day Chart (13-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Slipped 32 points in first 2 minutes after positive opening
2- Down moves in Bullish Falling Channels
3- Last 3 hours up moves with downward corrections
4- Whole day actual trading between 12140-12225

Conclusions from intra day chart analysis 

As spike in Coronavirus new cases and sentiment was depressed therefore all the Asian markets are flat to weak and Dow Jones's Futures is also trading more than 70 points down today morning hence Nifty slipped 32 points in first 2 minutes after positive opening

Some intraday consolidation was seen at lower levels today through Down moves in Bullish Falling Channels and last 3 hours up moves with downward corrections therefore if follow up consolidation develop tomorrow then decisive up moves will be seen. As most time today trading was between 12140-12180 therefore sustaining it beyond should be watched 

As Coronavirus fear and no one knows about the seriousness of its consequences therefore its  reactions on asian markets should also be watched in the morning.

As most time today trading was between 12140-12180 therefore sustaining it beyond should be watched tomorrow for next decisive moves amid Coronavirus fear.

Firstly watch 12188-12217 for next decisive moves 

Pre-open Outlook(13-02-2020)

As spike in Coronavirus new cases and 242 death cases counted in a single day therefore all the Asian markets are flat to weak and Dow Jones's Futures is also trading more than 70 points down today morning.

Sentiment turned little suppressed today therefore Nifty will firstly trade and prepare for next decisive moves within most time trading range(12188-12217) of yesterday and firstly sustaining beyond should be watched for next moves. 

Rally continuation towards next resistances

Intra Day Chart Analysis & Market Outlook

(13-02-2020)

Nifty-Intra Day Chart (12-Feb-2020):-

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Technical Patterns formation in today intraday charts

1- 72 Points jump in first 4 minutes
2- More than 5 hours trading at 0.60% higher levels within 45 points between 12188-12231
3- Most time trading 12188-12217 
4- Whole day actual trading between 12145-12231

Conclusions from intra day chart analysis 

5th Resistance range between 12160-12216 was updated on 08-02-2020 in "Firstly watch level in next week for the life and length of expected correction"

Nifty traded at and above 0.60% higher levels within and near about 8th Feb mentioned resistance range. 

As whole day today trading was above 0.60% higher levels with consolidation patterns indications therefore expected that up moves will be seen above today highest(12231) and once sustaining above it will mean rally continuation towards next resistances(12327-12375).   

As busy therefore Stock Market Outlook of today(12-02-2020) is not being updated.

Firstly watch levels amid Delhi Assembly Election results and Corona virus fear

Intra Day Chart Analysis & Market Outlook

(11-02-2020)

Nifty-Intra Day Chart (10-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Sharp fall after flat opening
2- Support between 11991-12022
3- Up moves in Bearish Rising Channels
4- Whole day actual trading between 11991-12103

Conclusions from intra day chart analysis 

Following lines were told on 08-02-2020 in "Firstly watch level in next week for the life and length of expected correction":-

1- down moves below last Friday lowest(12073.95) is expected in the beginning of next week.
2- Next supports below last Friday lowest are as follows:-

1- 11983-12021
2- 11922-11951
3- 11615-11705

As was told 100% same happened in following manner:-

1- Nifty slipped below 12073.95 in first 2 minutes today and also traded whole day below it. 
2- Today lowest was within mentioned 1st supports range(11983-12021) at 11990.75.

As Nifty again got supports within 1st supports range(11983-12021) between 11991-12022 and also closed just above it at 12031.50 today therefore this range has become most crucial and until Nifty will not sustain below it till then decisive down moves will not be seen. 

Although lower levels good supports today but minor selling was also seen through Up moves in Bearish Rising Channels therefore firstly sustaining beyond 11983-12045 should be watched tomorrow for next decisive moves confirmations because Indian markets will react Delhi Assembly Election results through high volatility and Corona virus fear led Global markets reactions.

Firstly watch level in next week for the life and length of expected correction

Technical Analysis,Research & Weekly Outlook

(Feb 10 to Feb 14,2020)

Nifty-EOD Chart Analysis

(5th Wave structure)

Nifty-EOD Chart (07-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-i of Wave-5 beginning at 10004.55 on 26-10-2018 after Wave-4 completion
2- Wave-i of Wave-5 completion at 12103.00 on 03-06-2019 and corrective Wave-ii beginning
3- Corrective Wave-ii of Wave-5 completion at 10637.10 on 23-08-2019 and impulsive Wave-iii beginning
4- Impulsive Wave-iii of Wave-5 continuation with recent top formations at 12430.50 on 20-01-2020
5- Wave-A completion at 11614.50 on 03-02-2020
6- Wave-B completion at 12160.60 on 06-02-2020

Nifty-Intra Day Chart Analysis 

(07-Feb-2020)

Nifty-Intra Day Chart (07-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Selling between 12104-12136
2- Selling between 12098-12108
3- Selling between 12096-12113
4- Whole day actual trading between 12074-12154

Conclusions from EOD chart analysis 

1- Long Term Trend is up after moving above its decider 200 Day SMA(today at 11663.40)
2- Intermediate Term Trend sideways.
3- Short Term Trend has turned up after last week rally.

Conclusions from intra day chart analysis 

As higher levels good selling therefore down moves below last Friday lowest(12073.95) is expected in the beginning of next week.

Conclusions (After Putting All Studies Together)

Following lines were told on 01-02-2020 in "Strong rally after Global markets recovery from Corona virus fear":-

27.0% retracement has been completed and Short Term Indicators have also turned Oversold therefore some up moves towards following resistances can not be ruled out and until Nifty will sustain above 12216 till then correction completion will not be considered.

1- 11808-111842
2- 11900-12017
3- 12003-12048
4- 12125-12169
5- 12160-12216

Strong rally was seen in previous week which completed near the top of above mentioned 4th resistance at 12160.60 on 06-02-2020. 

Next and last 2 resistances above 12216 are as follows:-

1- 12220-12262
2- 12317-12378

Although strong rally in first 3 sessions of previous week but some selling was also seen at higher levels in last 2 sessions between 12096-12160 as well as Short Term Indicators have turned over bought therefore down moves are firstly expected in th ebeginning of next week.

As above mentioned multiple resistances are also lying above last week highest therefore until complete consolidation will not develop till then fresh rally above life time highest will not be seen and follow up selling in the beginning of next week will mean correction continuation towards the bottom of Wave-A(11614.50).

Next supports below last Friday lowest are as follows:-

1- 11983-12021
2- 11922-11951
3- 11615-11705

Follow up selling and correction continuation below 11922 will mean Wave-C formation for moving below the bottom of Wave-A(11614.50) therefore sustaining beyond 11922 should be firstly watched in next week for the life and length of expected correction. 

Fresh selling will mean sharp down moves

Intra Day Chart Analysis & Market Outlook

(07-02-2020)

Nifty-Intra Day Chart (06-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Mixed Patterns formation in last 4 hours between 12102-12160 
3- Whole day actual trading between 12085-12160

Conclusions from intra day chart analysis 

Following resistances were updated yesterday in "Firstly fresh consolidation and only after that rally continuation towards following next resistances":-

1- 12125-12169
2- 12160-12216 

Firstly consolidation was seen through Down moves in Bullish Falling Channel and after that up moves wre seen but last 4 hours trading was with Mixed Patterns formation and RBI Credit policy led volatility was also seen which means that one sided technical positions have not developed today. 

As today closing was within yesterday mentioned first resistance range(12125-12169) at 12137.95 and above it more resistances are lying up to 12216 therefore more consolidation is required for fresh up moves above 12216. 

Expected that Nifty will firstly trade within 12085-12216 in the coming sessions and finally sustaining beyond this range will form next trend. As Short Term Indicators have turned over bought and minor selling was also seen at higher levels today as well as resistances are lying above today highest therefore if fresh selling develop tomorrow then sharp down moves may be seen below today lowest(12085),be cautious.

Firstly fresh consolidation and only after that rally continuation towards following next resistances

Intra Day Chart Analysis & Market Outlook

(06-02-2020)

Nifty-Intra Day Chart (05-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- More than 4 hours Mixed Patterns formation between 11980-12050
2- Slow up moves in last 2 hours
3- Whole day actual trading between 11954-12098

Conclusions from intra day chart analysis 

Although today closing was at the higher levels of the day but before that genuine consolidation patterns were not seen because firstly more than 4 hours trading was with Mixed Patterns formations and after that last 2 hours up moves were slow which is an indication of some selling also therefore firstly fresh consolidation near about today highest and after that sustaining above it should be watched tomorrow for rally continuation towards following next resistances:-

1- 12125-12169
2- 12160-12216 

As busy therefore Stock Market Outlook of today(05-02-2020) is not being updated.

Watch levels for next decisive moves confirmations

Intra Day Chart Analysis & Market Outlook

(04-02-2020)

Nifty-Intra Day Chart (03-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves in Bearish Rising Channels
2- Selling between 11616-11749
3- Support between 11648-11705
4- Up moves in Bearish Rising Channel
5- Whole day actual trading between 11615-11749

Conclusions from intra day chart analysis 

As both selling and consolidation patterns formations therefore whole day today trading will be understood with Mixed Patterns formation between 11615-11749 hence firstly Nifty will trade and prepare for next decisive moves within this range tomorrow and finally sustaining it beyond should be watched for next decisive moves confirmations. 

Strong rally after Global markets recovery from Corona virus fear

Technical Analysis,Research & Weekly Outlook

(Feb 03 to Feb 07,2020)

Nifty-EOD Chart Analysis

(5th Wave structure)

Nifty-EOD Chart (01-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Impulsive Wave-i of Wave-5 beginning at 10004.55 on 26-10-2018 after Wave-4 completion
2- Wave-i of Wave-5 completion at 12103.00 on 03-06-2019 and corrective Wave-ii beginning
3- Corrective Wave-ii of Wave-5 completion at 10637.10 on 23-08-2019 and impulsive Wave-iii beginning
4- Impulsive Wave-iii of Wave-5 completion at 12430.50 on 20-01-2020 and its correction continuation
5- Correction continuation with recent bottom formation at 11633.30 on 01-02-2020 
6- First signal of deeper correction through Nifty testing 200 Day SMA(today at 11654.90) on 01-02-2020

Nifty-Fibonacci Retracement levels of Wave-5

Nifty-EOD Chart (01-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns and Formations in EOD charts

1- Nifty-Fibonacci Retracement levels of Wave-5(10004-12430)
2- 27% Retracement has been completed

Nifty-Intra Day Chart Analysis (01-Feb-2020)

Nifty-Intra Day Chart (01-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- 4 Hours selling between 11900-12017
2- Follow up selling between 11808-111842
3- 175 Points slipping in last hour
4- Whole day actual trading between 11633-12017

Conclusions from EOD chart analysis 

1- Long Term Trend is at stake after Nifty testing its decider 200 Day SMA(today at 11654.90) on 01-02-2020.
2- Intermediate Term Trend down.
3- Short Term Trend is down.

Conclusions from Fibonacci Retracement levels analysis 

Nifty-Fibonacci Retracement levels of Wave-5(10004-12430):-

1- 13.0%-12114 (Retraced)
2- 23.6%-11857 (Retraced)
3- 27.0%-11775 (Retraced)
4- 38.2%-11503 (Crucial)
5- 50.0%-11217 (Crucial)
6- 61.8%-10930 (Crucial)
7- 70.7%-10714
8- 76.4%-10576
9- 78.6%-10523 
10-88.6%-10280 

Conclusions from intra day chart analysis 

As Dow Jones closed more than 600 points down last Friday therefore Nifty slipped 75 points in first 15 seconds after gap down opening and after that slow up moves remained continued till Budget speech opening.

As Budget enthusiasm therefore selling was done on the back of Budget led heated sentiments and down moves started after 1 PM. Again follow up selling between 11808-111842 after some up moves and finally 175 Points slipping in last hour as well as closing at the lowest of Union Budget day after loosing 300 points.

Certainly huge selling therefore until complete consolidation will not develop till then Nifty will not moves above day's highest(12017) but some up moves may be seen up to 11808

Conclusions (After Putting All Studies Together)

Crucial Simple Moving Averages are as follows:-

5 Day SMA is today at-11969
13 Day SMA is today at-12123
55 Day SMA is today at-12109
200 Day SMA is today at-11654

As Nifty tested Long Term Trend decider 200 Day SMA(today at 11654.90) on 01-02-2020 and closed just above it at 11661.85 on Union Budget like day therefore too much depression of sentiments will be understood but Corona virus spreading fear was also one of the reason of such big fall therefore firstly sustaining beyond 200 Day SMA and Global markets reaction on Corona virus should be watched for the life of Long Term Trend.  

27.0% retracement has been completed and Short Term Indicators have also turned Oversold therefore some up moves towards following resistances can not be ruled out and until Nifty will sustain above 12216 till then correction completion will not be considered.

1- 11808-111842
2- 11900-12017
3- 12003-12048
4- 12125-12169
5- 12160-12216

Union Budget 2-020-21 is good enough and Indian markets are following Corona virus led Global markets weakness,let world recover from this disease then strong rally will be seen in Indian markets also.  

Watch levels for up moves confirmations amid Corona virus spreading fear

Intra Day Chart Analysis & Market Outlook

(01-02-2020)

Nifty-Intra Day Chart (31-Jan-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Slow up moves in Mid-session
3- Selling between 12003-12048
4- Sharp fall in last hour
5- Whole day actual trading between 11946-12103

Conclusions from intra day chart analysis 

Although 65 points positive opening but not sustaining at higher levels because Corona virus spreading news and market started slipping. 

As firstly down moves were in Bullish Falling Channel therefore some up moves were seen in Mid-session which were slow hence selling was seen between 12003-12048 and resultant sharp fall in last hour.

Tomorrow is Budget 2020-21 day which may generate some optimism if positive announcements but sentiment is too much depressed due to negative news from Corona virus front and today closing was at 30 days lowest therefore more down moves gates are very much open and until Nifty will not close above following resistances till then fresh rally will not be considered.

1- 12003-12048
2- 12125-12169
3- 12160-12216

Sharp rally any day

Intra Day Chart Analysis & Market Outlook

(31-01-2020)

Nifty-Intra Day Chart (30-Jan-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Slipping 52 points in first 30 seconds
2- Down moves in Bullish Falling Channel
3- Consolidation between 12011-12046
4- Whole day actual trading between 12011-12150

Conclusions from intra day chart analysis 

As most Asian markets were trading more than 1% down and some were more than 3% weak and Dow Jones's Futures was also trading after loosing more than 200 points therefore slippinmg 52 points in first 30 seconds but after that more than 4 hours trading was with Down moves in Bullish Falling Channel and lower levels consolidation was seen between 12011-12046 in last 2 hours therefore Indian markets will be understood well prepared for sharp rally which may be seen any day because Short Term indicators have turned Over sold and whole day good intraday consolidation today.

Crashing like situation in most Global markets due to Corona virus fear therefore firstly sustaining beyond 12011-12046 should be watched in the coming sessions for rally beginning confirmations.

Watch levels amid up moves expectation

Intra Day Chart Analysis & Market Outlook

(30-01-2020)

Nifty-Intra Day Chart (29-Jan-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Up moves with corrections
2- Down moves in Bullish Falling Channel
3- Selling between 12125-12169
4- Volatility in Mid Session
5- Support between 12113-12137
6- Whole day actual trading between 12104-12169

Conclusions from intra day chart analysis 

Although firstly some consolidation through Up moves with corrections and Down moves in Bullish Falling Channel but higher levels selling also between 12125-12169 therefore down moves and Volatility was seen in Mid Session. 

As some supports was also seen in last hour between 12113-12137 therefore whole day trading will be understood with Mixed Patterns formation between 12104-12169 and firstly sustaining it beyond should be watched for next decisive moves beginning amid up moves expectation after fresh consolidation.

Fresh rally after some more correction towards next supports

Intra Day Chart Analysis & Market Outlook

(29-01-2020)

Nifty-Intra Day Chart (28-Jan-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- More than 5 hours selling between 12102-12163(Immediate Resistances)
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 12025-12163

Conclusions from intra day chart analysis 

Although more than 5 hours selling between 12102-12163 but after this Down moves were in Bullish Falling Channel therefore little recovery was seen from lower levels in last half hour.

As more than 5 hours selling therefore more down moves below today lowest can not be ruled out but some consolidation was also seen through Down moves in Bullish Falling Channel therefore expected that follow up consolidation will develop within or near about next supports(11930-12000) and fresh rally may begin any day which may be sharp also.

A correction in today Outlook

Right selling range is as follows:-
1- More than 5 hours selling between 12160-12216(Immediate Resistances)

Correction continuation towards next supports

Intra Day Chart Analysis & Market Outlook

(28-01-2020)

Nifty-Intra Day Chart (27-Jan-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- More than 5 hours selling between 12108-12216(Immediate Resistances)
2- Slipping in last hour
3- Whole day actual trading between 12108-12216

Conclusions from intra day chart analysis 

As death toll rises due to Corona viruses and its spreading also all around wourd therefore Dow Jones's Futures was trading more than 200 points down today morning and resultant weaker opening of Indian markets.

Firstly more than 5 hours selling between 12108-12216 and after that slippping till last minutes as well as no consolidation patterns formations therefore correction will remain continued.

Next supports are above 12088 and once sustaining below it will mean Correction continuation towards next supports(11930-12000) and it is expected also.

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