Rally continuation
Nifty-Intra Day Chart Analysis &
Market Outlook(25-11-2020)
Nifty-Intra Day Chart (24-Nov-2020):-
Technical Patterns formation in today intraday charts
1- Consolidation between 12978-13048
1- Up moves with downward corrections
3- Whole day actual trading between 12978-13079
Conclusions from intra day chart analysis
As Dow Jones closed 327 points up yesterday and its Futures was also trading with 245 points gains today morning therefore Nifty opened gap up strong above 13000 but consolidated below 13000 because some selling was seen at higher levels yesterday.
Firstly consolidation between 12978-13048 and after that whole day up moves with downward corrections therefore rally will remain continued. Until complete selling patterns will not develop on Intraday and EOD charts till then big correction will not seen,let it happen then firstly Short Term correction will be considered. As selling patterns were not seen today therefore on going rally will remain continued.