Rally continuation Expectations
Intra Day Chart Analysis & Market Outlook
(02-02-2017)
Nifty-Intra Day Chart (01-Feb-2017):-
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| Just click on chart for its enlarged view |
1- Sideways consolidation before and during Budget between 8538-8587
2- 105 points sharp up in just 12 minutes
3- Rally continuation with intraday consolidation
4- Whole day actual trading between 8538-8722
Conclusions from intra day chart analysis
Although previous 2 sessions closing was near the lower levels of the day but we told only for expectations of rally continuation above 8672 after follow up consolidation and it was seen today.
As whole day consolidation today therefore rally continuation is expected in the coming sessions also and until complete selling patterns will not develop till then on going rally will remain continued.