Finally Rally after Follow up Consolidation
Intra Day Chart Analysis & Market Outlook
(10-01-2017)
Nifty-Intra Day Chart (09-Jan-2017):-
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| Just click on chart for its enlarged view |
1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 8228-8263
Conclusions from intra day chart analysis
Although today closing with minor losses but whole day consolidation was seen through Down moves in Bullish Falling Channels therefore it seems that Indian markets are in consolidation phase because good consolidation was seen last Friday also.
As consolidation is on therefore expected that finally rally will be seen above the top(8306) of on going rally after follow up consolidation in the coming 2/3 sessions.