Finally rally continuation after Very Short Term correction completion today
Intra Day Chart Analysis & Market Outlook
(08-03-2017)
Nifty-Intra Day Chart (07-Mar-2017):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 8933-8954
3- Whole day actual trading between 8933-8977
Conclusions from intra day chart analysis
Following lines were told yesterday in "Finally Rally continuation after Minor Correction":-
1- As Very Short Term indicators have turned overbought and Nifty has to consolidate between 8931-8992
2- which will be firstly done in the coming sessions therefore minor intraday corrections also can not be ruled out within this range.
Nifty traded whole day today within yesterday mentioned range with most time negative zone trading but consolidation was firstly seen through Down moves in Bullish Falling Channel and after that sideways trading with consolidation patterns formations between 8933-8954 therefore finally on going rally continuation is expected after Very Short Term correction completion today.