Firstly watch levels amid fresh rally beginning possibility
Intra Day Chart Analysis & Market Outlook
(28-06-2019)
Nifty-Intra Day Chart (27-Jun-2019):- |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channels
2- Sharp falls in last hours
3- Whole day actual trading between 11822-11911
Conclusions from intra day chart analysis
2nd Resistance range between 11842-11934 was updated 3 times in last 4 sessions outlooks and Nifty closed just below it at 11841.55 today.
Very Short Term correction possibility was told yesterday and it was seen through sharp falls higher levels today.
As fresh selling at higher levels within above mentioned 2nd resistance range(11842-11934) therefore this resistance range has become stronger but consolidation was seen above 11758 last Wednesday therefore Nifty will have to firstly trade and prepare for next decisive moves between 11758-11934 and that will be done in the coming sessions.
Expected that finally rally will remain continued after fresh consolidation but let it develop and Nifty to sustain above 11758 then fresh rally beginning time frame will be updated.
Firstly sustaining beyond 11758-11934 should be watched amid fresh rally beginning possibility.