Finally Fresh Rally above 9000 after Follow up Consolidations
Technical Analysis and Market Outlook
(04-03-2015)
Nifty-Intra Day Chart (03-Mar-2015):- |
| Just click on chart for its enlarged view |
1- Consolidation between 8925-8970(Immediate Supports)
2- Up moves in Bearish Rising Channel
3- Up moves with intraday corrections
4- Whole day actual trading between 8925-9008
Conclusions from intra day chart analysis
Following conclusive line was told yesterday in Strong Rally after 'Firstly Consolidation and after that Fresh Rally above 9000':-
firstly Nifty will consolidate and prepare for next up moves between 8780-8970 in the coming sessions and finally fresh rally will be seen in unchartered territory above 9000.
As was told yesterday 100% same happened today and firstly Nifty consolidated between 8925-8970 and after that Nifty traded above 9000.
As lower levels good consolidation and after that last hours Up moves with intraday corrections today therefore up moves continuation is expected in the coming sessions
Although closing near the higher levels of the day but completely Mixed patterns formations today because both Bullish and Bearish patterns formations today and all the up moves were without force also therefore some more consolidations is firstly required for sharp up moves after sustaining above 9000.
Expected that finally fresh rally above 9000 will be seen after follow up consolidations between 8925-9000 in the coming sessions.