Still Rally continuation Expectations
Intra Day Chart Analysis & Market Outlook
(23-01-2017)
Nifty-Intra Day Chart (20-Jan-2017):-
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| Just click on chart for its enlarged view |
1- Mixed Patterns between 8400-8423
2- Down moves in Bullish Falling Channel in last 3 hours
3- Whole day actual trading between 8341-8423
Conclusions from intra day chart analysis
As uncertainty and confusion surrounding Donald Trump’s policies and most Global markets were weak on his oath of office taking day therefore weak opening of Indian markets. Although firstly Mixed Patterns formations between 8400-8423 but in the last 3 hours Down moves in Bullish Falling Channel therefore view will not be Bearish despite day's closing at the lower levels of the day after slipping and closing below previous 6 sessions lowest(8374).
Still expected that Nifty will move above last Friday highest in the beginning of next week and finally rally will remain continued above previous 7 sessions highest(8460)