Intra Day Chart Analysis & MarketNifty-Intra Day Chart (26-Apr-2017):-
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1- 4 Hours trading with Mixed Patterns formations between 8339-8367
2- High volaility in last hour
3- Whole day actual trading between 8302-8367
Conclusions from intra day chart analysis
Although closing near the higher levels of the day but 4 Hours today trading was with Mixed Patterns formations and high volatility in last hour also therefore some more consolidation is firstly required between and near about today trading range for decisive up moves above today highest because one sided clear intraday patterns were not seen today.
27 Sessions trading was seen 9020-9274 and this range was broken out on 25-04-2017 and previous 2 sessions closing was above it. 3 Sessions closing above 9274 will be technically break out confirmation,its happening tomorrow will mean fresh big rally after 27 sessions like big range break out confirmations.
Expected that rally will remain continued but after follow up consolidation between 8302-8367 which should also be watched tomorrow.