Rally continuation towards 15000
Nifty-Intra Day Chart Analysis &
Market Outlook(05-02-2021)
Nifty-Intra Day Chart (04-Feb-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves with downward corrections
3- More than 2 hours consolidation between 14811-14864
4- Consolidation between 14865-14913
5- Whole day actual trading between 14715-14913
Conclusions from intra day chart analysis
Following lines were told yesterday in "14827-14868 will confirm next decisive moves":-
1- firstly fresh consolidation is required for decisive up moves above today highest.
2- Expected that Nifty will firstly trade and prepare for next decisive moves within and near about 14827-14868
As was told yesterday 100% same happened today through:-
Firstly fresh consolidation requirement was told and Nifty consolidated whole day today as well as more than 2 hours consolidated between 14811-14864 today which was within and near about 14827-14868.
Although firstly slipping 75 points after flat opening but firstly lower levels consolidation through Down moves in Bullish Falling Channel therefore after that up moves were seen which were also with consolidation through downward corrections.
As more than 2 consolidation between 14811-14864 in Mid-Session and after that last hours follow up consolidation also therefore whole day today trading will be understood with consolidation hence on going rally continuation is expected towards 15000.