Fresh rally after Very Short Term correction
Intra Day Chart Analysis & Market Outlook
(22-01-2018)
Nifty-Intra Day Chart (19-Jan-2018):-
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Just click on chart for its enlarged view |
1- Consolidation between 10818-10857
2- Last hour Up moves in Bearish Rising Channel
3- Whole day actual trading between 10794-10906
Conclusions from intra day chart analysis
Following lines were told on 17-01-2018 in "Rally continuation Expectations":-
rally continuation will be seen because no selling patterns formations today.
Although rally remained continued in both previous sessions after 17-01-2018 and last Friday closing also at life time highest after gaining 0.72% points but some selling was also seen in last hour through Up moves in Bearish Rising Channel therefore Very Short Term correction is expected before fresh rally in the beginning of next week because Short Term indicators are overbought.