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Watch levels amid correction continuation expectations

From : Lalit Dhingra at 11:58 PM - Mar 13, 2018 ( )

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Watch levels amid correction continuation expectations

Intra Day Chart Analysis & Market Outlook

(14-03-2018)

 

Nifty-Intra Day Chart (13-Mar-2018):-

Just click on chart for its enlarged view

 

Technical Patterns formation in today intraday charts


1- Selling between 10446-10478

2- Sharp fall

3- Lower levels supports

4- Whole day actual trading between 10378-10478

 

Conclusions from intra day chart analysis 

 

Resistance between 10480-10520 was updated yesterday in "Next resistancs will confirm correction completion" and Nifty retraced from just below it at 10478.60 today and more than 3 hours selling was also seen just below it between 10446-10478 therefore yesterday mentioned resistances have become stronger today.


3 Hours consolidation between 10314-10341 yesterday and more than 3 hours selling between 10446-10478 today therefore firstly sustaining beyond 10314-10478 should be watched for sharp correction continuation below 10314 and first signal of correction completion above 10478 but correction completion which will be considered only after sustaining above 10587.

 

As follow up selling today was just below yesterday mentioned resistances therefore finally correction continuation is expected below 10314.




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