Rally continuation after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(28-11-2017)
Nifty-Intra Day Chart (27-Nov-2017):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Up moves were intraday corrections
3- Whole day actual trading between 10341-10407
Conclusions from intra day chart analysis
Sentiment was much depressed today morning due to following negative developments:-
1- All the Asian markets were trading in Red and some were more 0.75% down.
2- SGX Nifty was more than 40 points weak
3- Negative news of S&P keeping India rating unchanged.
When above dampening developments was today morning then we told following lines today at 08:04 AM in "Firstly Watch Levels after negative developments today morning":-
1- firstly sustaining beyond 10377 should be watched in the coming sessions
2- view will be cautious not Bearish
As good intraday consolidation today therefore today started rally continuation is expected but follow up consolidation is must because following resistances above today highest and Vert Short Term indicators have turned overbought after strong recovery from lower levels today.
1- 10428-10454
2- 10465-10483(Last resistance)