Follow up consolidation tomorrow will mean sharp up moves above 9000
Intra Day Chart Analysis & Market Outlook
(07-02-2017)
Nifty-Intra Day Chart (06-Feb-2017):- |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel but with intraday corrections
2- Lower levels supports
3- Last hours trading with Mixed Patterns formations
4- Whole day actual trading between 8770-8814
Conclusions from intra day chart analysis
Although whole day positive zone trading after gap up opening but clear consolidation patterns were not seen and Mixed Patterns formations developed therefore view will be cautiously Bullish and valid break out of today trading range should be firstly watched for next trend confirmations.
Bullish rally is on and once follow up consolidation tomorrow will mean sharp up moves above 9000 will be seen very shortly.