Rally continuation after Budget despite High Volatility
Technical Analysis and Market Outlook
(28-02-2015)
Nifty-Intra Day Chart (27-Feb-2015):-Technical Analysis and Market Outlook
(28-02-2015)
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1- Whole day up moves with intraday correction and in Expanding Channel
2- Whole day actual trading between 8717-8856
Conclusions from intra day chart analysis
Following conclusive lines were told yesterday in "Fresh Rally towards Life Time high after Correction Completion Today":-
1- Although today closing near the lowest of the day after sharp down moves but expected that Nifty will not slip below today lowest(8669.45)
2- fresh rally towards life time high will be seen from tomorrow after completion of correction today
As was told yesterday 100% same happened today in following manner:-
1- Today lowest is at 8717.45 and Nifty could not slip below yesterday lowest(8669.45)
2- Fresh strong rally was seen today and Nifty closed 160.75 points up.
Following topic was updated:-
1- On 21-02-2015- Finally Post Budget Rally after follow up consolidations
2- On 23-02-2015- Fresh Rally Immediate before or after Budget but after complete consolidation
We told in all the previous topics for fresh Rally immediate before and its was seen one day before Budget today and Post Budget rally will be seen in the coming sessions . As no selling patterns were seen today and whole day up moves of today were with intraday correction therefore next rally will be seen after break out(above 8,856.95)of Expanding Channel which was formed today.
Just keep in mind following lines which we told yesterday in "Fresh Rally towards Life Time high after Correction Completion Today":-
no question mark on Modi Budget-2015(specially I am telling Modi Budget) and all that will be done which is required for the growth of Indian economy and Corporate sector therefore undoubtedly fresh rally will be seen after Budget despite whatsoever volatility in the coming 1/2 sessions.