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Sharp Pull Back Rally If no big crash in Asian markets 

Intra Day Chart Analysis & Market Outlook

(28-02-2020)

Nifty-Intra Day Chart (27-Feb-2020):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channels
3- Whole day actual trading between 11537-11663

Conclusions from intra day chart analysis 

Following lines were told on 15-02-2020 in "Strong signals of deeper correction beginning from next week":-

strong signal of Wave-C formation in next week for slipping below the bottom of Wave-A(11614.50)

As was told 100% same happened and Nifty slipped below 11614.50 today as well as today lowest was at 11536.70

Nifty crashed 141 points in first 1 hour and 15 minutes after weak opening but these Down moves were in Bullish Falling Channel and some consolidation developed therefore whole day up moves were seen and today closing was at the higher levels of the day. As Up moves in last 5 hours were in Bearish Rising Channels also therefore some profit booking also can not be ruled out. 

It was only a volatile day today with lower levels some supports and higher levels some selling also therefore expected that Nifty will firstly trade within today trading range(11537-11663) tomorrow and prepare for next moves.

Nifty again closed below Long Term Trend decider 200-Day SMA(today at 11687.60) and once sustaining below it will mean more deep correction but Short Term indicators have turned oversold therefore a sharp Pull Back Rally is very much due which may be seen any day and its confirmation will be after sustaining above today highest(11663). If no big crash in Asian markets tomorrow only then sharp Pull Back Rally will be seen after some consolidation within and near about today trading range.