Rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(22-02-2017)
Nifty-Intra Day Chart (21-Feb-2017):
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| Just click on chart for its enlarged view |
1- Consolidation between 8861-8877
2- Whole day actual trading between 8861-8920
Conclusions from intra day chart analysis
Although firstly some down moves but lower levels good consolidation between 8861-8877 therefore up moves were seen in last 2 hours. As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected because selling patterns have not been seen yet which are must on intraday and EOD charts for decisive down moves.