Sharp rally any day
Intra Day Chart Analysis & Market Outlook
(31-01-2020)
Nifty-Intra Day Chart (30-Jan-2020):- |
| Just click on chart for its enlarged view |
1- Slipping 52 points in first 30 seconds
2- Down moves in Bullish Falling Channel
3- Consolidation between 12011-12046
4- Whole day actual trading between 12011-12150
Conclusions from intra day chart analysis
As most Asian markets were trading more than 1% down and some were more than 3% weak and Dow Jones's Futures was also trading after loosing more than 200 points therefore slippinmg 52 points in first 30 seconds but after that more than 4 hours trading was with Down moves in Bullish Falling Channel and lower levels consolidation was seen between 12011-12046 in last 2 hours therefore Indian markets will be understood well prepared for sharp rally which may be seen any day because Short Term indicators have turned Over sold and whole day good intraday consolidation today.
Crashing like situation in most Global markets due to Corona virus fear therefore firstly sustaining beyond 12011-12046 should be watched in the coming sessions for rally beginning confirmations.