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8315 will confirm Fresh,Strong and Sharp Rally
Intra Day Chart Analysis & Market Outlook
(24-06-2016)
Nifty-Intra Day Chart (23-Jun-2016):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Consolidation indications between 8191-8203
2- Up moves beginning after strong opening of European markets.
3- Sudden sharp jump afer fresh strong up moves in European markets and Dow's Futures.  
4- Whole day actual trading between 8189-8285

Conclusions from intra day chart analysis 

Although good selling in last 2 sessions but as soon as consolidation developed today then following lines were told at 12:18 PM today in "Just Watch 8154-8238 for first and strong indication of Brexit poll results reaction on Indian markets ":-

1- some consolidation indications were also seen today and supports were seen between 8154-8203 yesterday
2- good selling between 8213-8238 in last 2 sessions
3- firstly valid break out 8154-8238 should be watched for first and strong indication of Brexit poll results reaction on Indian markets.

Sideways market till the opening of European markets and up moves begun after more than 1% positive opening of all European markets.  As soon as European markets and Dow's Futures jumped sharply and European markets were up by more than 3% and Dow's Futures was also trading more than 175 points up then sudden sharp jump was seen in Indian markets also. Just click following topic links and understand today Global markets moves:-

1- European stocks surge to 3-week high as Brexit vote gets under way
2- Dow industrials futures jumped 160 points

As today up moves were due to Brexit news and Global markets reaction on it and not technical based therefore firstly watch following resistances for the confirmation of fresh rally:-

1- 8242-8255
2- 8260-8315
3- 8470-8520
4- 8575-8652

As not much difference between 1st and 2nd resistance range therefore until Nifty will not sustain above 2nd resistance range(8315) after complete consolidation till then fresh rally will not be considered. 

Last 20 sessions sideways trading between 8064-8295 and today closing near the higher levels of this range on the expectations of Remain victory and no Exit of Britain from Europe which will be decided tomorrow. It should be kept in mind that once sustaining above 8315 after Remain victory will mean fresh,strong and sharp rally because that will be break out confirmation of last 20 sessions range(8064-8295) also and there is no resistance between 8315-8470. 
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