Finally Rally Continuation amid Very Short Term Correction Possibility
Intra Day Chart Analysis & Market Outlook
(05-07-2016)
Nifty-Intra Day Chart (04-Jul-2016):-
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| Just click on chart for its enlarged view |
1- Intraday corrections
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 8365-8398
Conclusions from intra day chart analysis
As some Asian markets were trading strong today morning therefore gap up opening of Indian markets but slipping also after some weakness in most European markets. Although whole day sideways trading within 33 points and today closing near the lower levels of the day but intraday charts are showing consolidation patterns through intraday corrections and Down moves in Bullish Falling Channels also therefore view will remain Bullish. As Short Term Indicators have turned over bought after last 7 sessions Rally therefore Very Short Term correction is due which may be seen any day but finally rally will remain continued above today highest(8398.45).