Finally slipping below 10000 without sustaining above 10638
Intra Day Chart Analysis & Market Outlook
Nifty-Intra Day Chart (26-Apr-2018):-
Just click on chart for its enlarged view
Technical Patterns formation in today intraday charts
1- Mixed Patterns formation between 10560-10595
2- Sharp up after 03:00 PM
3- Whole day actual trading between 10560-10628
Conclusions from intra day chart analysis
Although sharp up after 03:00 PM but before that whole day trading was with Mixed Patterns formation therefore view will not be Bullish because such intraday volatailty is being seen for the last 7 sessions between 10510-10638 and until Nifty will not sustain above this range till then view will not be Bullish.
As Short and Intermediate Term indicators are overbought therefore correction was expected but not being seen and still having same view of not sustaining above 10638 as well as finally slipping too much below 10000 despite SGX Nifty today closing was 50 points up after Dow Jones strong closing with gaining 238 points.