Fresh rally after some more correction towards next supports
Intra Day Chart Analysis & Market Outlook
(29-01-2020)
Nifty-Intra Day Chart (28-Jan-2020):- |
| Just click on chart for its enlarged view |
1- More than 5 hours selling between 12102-12163(Immediate Resistances)
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 12025-12163
Conclusions from intra day chart analysis
Although more than 5 hours selling between 12102-12163 but after this Down moves were in Bullish Falling Channel therefore little recovery was seen from lower levels in last half hour.
As more than 5 hours selling therefore more down moves below today lowest can not be ruled out but some consolidation was also seen through Down moves in Bullish Falling Channel therefore expected that follow up consolidation will develop within or near about next supports(11930-12000) and fresh rally may begin any day which may be sharp also.