Intra Day Chart Analysis & Market
Outlook(20-01-2017)
Outlook(20-01-2017)
Nifty-Intra Day Chart (19-Jan-2017):-
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1- Consolidation between 8405-8423
2- Mixed Patterns between 8461-8440
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 8405-8445
Conclusions from intra day chart analysis
Selling between 8442-8460 was told yesterday in "Finally Rally Expectations after follow up Consolidation" and Nifty traded almost whole day as well as closed below it but consolidated nicely also therefore view will not be Bearish.
Last 6 sessions trading between 8374-8460 with lower levels good consolidation but last resistance between 8442-8460 therefore follow up consolidation is firstly required for decisive and fast up moves above 8460.
As lower levels sufficiently good consolidation today therefore expected that finally rally will remain continued above 8460 after follow up consolidation in the coming sessions.