Follow up consolidation will mean fresh rally above life time highest
Intra Day Chart Analysis & Market Outlook
(27-11-2017)
Nifty-Intra Day Chart (24-Nov-2017):-
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1- Consolidation between 10377-10393
2- Last hours Down moves in Bullish Falling Channel
3- Whole day actual trading between 10363-10404
Conclusions from intra day chart analysis
Following conclusive lines were told on 19-11-2017 in "Next trend confirmations from levels":-
Expected that Nifty will firstly prepare for next trend between 10232-10377 in the coming week and finally sustaining beyond this range will confirm the life of on going correcttion which should be watched for next trend confirmations.
Nifty traded first 4 sessions between 10232-10377 and finally closed above it after whole day good intraday consolidation on 24-11-2017 therefore strong signals of rally continuation towards following next resistances:-
1- 10428-10454
2- 10465-10483(Last resistance)
As above resistances therefore follow up consolidation in the beginning of next week will mean rally continuation towards and above life time highest(10490.45) and it is expected also.