Finally Rally after follow up consolidations within Crucial levels
Intra Day Chart Analysis & Market Outlook
(31-07-2017)
Nifty-Intra Day Chart (28-Jul-2017):-
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Technical Patterns and Formations in today intraday charts
1- Selling between 9980-9998
1- Support between 9945-9971
3- Up moves in last hour
3- Whole day actual trading between 9945-10026
Conclusions from intra day chart analysis
Following lines were told in "Finally Rally continuation after more down moves":-
1- some more down moves will be seen below today lowest(10005.50) and towards next supports.
2- strong supports are lying between 9952-9978
3- Nifty will remain sideways and prepare for next decisive big moves between 9952-10114
More down moves towards next supports(9952-9978) was told and Nifty slipped just below next supports(9952-9978) as well as recovered after intraday lowest formation at 9944.50.
Although last Friday closing was near the highest levels of the day after last hour up moves and lower levels supports formations also but selling was also seen between 9980-9998 therefore follow up consolidation is firstly required for decisive up moves.
Last 4 sessions trading between 9945-10114 with lower levels good consolidation and higher levels equally good selling therefore Nifty will firstly trade and prepare for next decisive moves within these crucial levels(9945-10114) and expected that finally rally will be seen above 10114 after follow up consolidation within mentioned crucial levels.
