Finally Rally Expectations above Today Highest after Follow up Consolidations
Intra Day Chart Analysis & Market Outlook
(08-07-2015)
Nifty-Intra Day Chart (07-Jul-2015):- |
| Just click on chart for its enlarged view |
1- Selling Patterns between 8540-8550(Immediate Resistances)
2- Whole day actual trading between 8484-8561
Conclusions from intra day chart analysis
Although today closing with minor losses but higher levels selling patterns formations were also seen therefore view is cautious and follow up technical positions formations will be firstly watched tomorrow for the confirmation of next decisive moves because last confirmation is still required through sustaining above 8505 and should be firstly watched for next decisive big rally.
As Greece news led Global markets uncertainty is still alive therefore volatility may remain high and traders should be careful because in such situations both side Stop Loss are also triggered.
Whatsoever volatility but Nifty will remain sideways between 8387-8550 and prepare for next decisive moves within this range. As those Bullish patterns formations which have been updated in both previous Outlooks therefore still expected that finally rally will remain continued above today highest(8561.35) after follow up consolidations despite 1% to 2% fall at this moment in all US and European markets.