Only a Pull Back Rally consideration amid correction continuation expectations
Intra Day Chart Analysis & Market Outlook
(25-09-2017)
Nifty-Intra Day Chart (22-Sep-2017):-
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| Just click on chart for its enlarged view |
1- 60 Points fall in first minute after weak opening
2- Whole day down moves with follow up selling
3- Whole day actual trading between 9953-10060
Conclusions from intra day chart analysis
Although global cues were not as much depressing but Indian markets showed genuine weakness and completely underperformed all Global markets last Friday as well as follow up selling was seen after sharp fall in first minute therefore until complete consolidation will not develop till then correction completion will not be considered and correction continuation expectations will remain alive towards and below 9920
As Very Short Term indicators have turned oversold therefore only a Pull Back Rally will be considered amid correction continuation expectations.