10227 will confirm life of on going Pull Back Rally
Intra Day Chart Analysis & Market Outlook
(04-04-2018)
Nifty-Intra Day Chart (03-Apr-2018):-
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| Just click on chart for its enlarged view |
1- Mixed Patterns formation till 03:00 PM between 10172-10229
2- Up moves after 03:00 PM
3- Whole day actual trading between 10172-10255
Conclusions from intra day chart analysis
Last 9 sessions trading was between 9952-10227 and today closing was above it but before that almost whole day trading was with Mixed Patterns formation therefore follow up consolidation and sustaining above 10227 is must for the confirmation of 9 sessions trading range valid break out.
Although last half hour up moves but Short Term indications are over bought therefore Short Term correction has become very much due. As complete selling patterns formation have not been seen yet therefore firstly 3/4 hours trading patterns and its resultant finally sustaining beyond 10227 should be watched tomorrow for the life of on going Pull Back Rally