Firstly Watch Levels for Rally Continuation or Short Term Correction beginning
Intra Day Chart Analysis & Market Outlook
(30-05-2017)
Nifty-Intra Day Chart (29-May-2017):-
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| Just click on chart for its enlarged view |
1- Sharp up after weak opening
2- Down moves in Bullish Falling Channel
3- Up moves with intraday corrections
4- Selling between 9593-9615
5- Selling between 9616-9637
6- Whole day actual trading between 9548-9637
Conclusions from intra day chart analysis
Although weaker opening but Sharp up moves immediately after weak opening and next 3 hours consolidation also through:-
1- Down moves in Bullish Falling Channel
2- Up moves with intraday corrections
As selling was also seen at higher levels in last 3 hours therefore today trading will be understood with Mixed patterns formations and valid break out of today trading range should be firstly watched in the coming sessions for on going rally continuation above 9637 or Short Term Correction beginning below 9548.