Pull back rally expectations
Intra Day Chart Analysis & Market Outlook
(24-04-2019)
Nifty-Intra Day Chart (23-Apr-2019):- |
| Just click on chart for its enlarged view |
1- 5 Hours trading with Mixed Patterns formation between 11607-11645
2- Slipping in last hour
3- Whole day actual trading between 11565-11645
Conclusions from intra day chart analysis
Following 2 levels were updated yesterday in "Just watch next supports for the life of on going correction":-
1- Selling between 11626-11692
2- Supports between 11550-11603
As Nifty traded whole day within above mentioned levels with 5 Hours trading with Mixed Patterns formation between 11607-11645 and clear selling or buying patterns were not seen therefore expected that nifty will trade and prepare for next decisive moves within yesterday mentioned above crucial levels(11550-11692).
Although nifty closed near the lower levels of the day after slipping in last hour but view will not be Bearish because today closing was within supports range(11550-11603) and Very Short Term indicators have turned oversold therefore a Pull back rally is expected tomorrow and sustaining above following levels will suggest fresh rally after on going correction completion:-
1- 11645
2- 11692