Rally continuation above 12000
Intra Day Chart Analysis & Market Outlook
(31-05-2019)
Nifty-Intra Day Chart (30-May-2019):-
1- Consolidation between 11905-11925
2- Down moves in Bullish Falling Channel
3- Intraday correction in last hour
4- Whole day actual trading between 11864-11968
Conclusions from intra day chart analysis
Although Nifty closed near the lower levels of the day yesterday and all the European and US markets were also trading more than 1% down yesterday then following line was told yesterday in "Firstly Watch levels amid crashing Global markets":-
rally continuation above 12000 is still expected
As was told 100% same happened and rally towards 12000 was seen as well as Nifty closed after gaining 84 points today.
As whole day today trading was with lower levels sideways consolidation and last hours consolidation through intraday corrections therefore rally continuation is expected above 12000 in the coming sessions.