Rally Continuation after Correction Completion
Intra Day Chart Analysis & Market Outlook
(06-10-2015)
Nifty-Intra Day Chart (05-Oct-2015):- |
| Just click on chart for its enlarged view |
1- 75 Points recovery in first minute after strong opening
2- 3 hours consolidation between 8052-8068
3- Higher levels consolidation in last hour between 8111-8128
4- Whole day actual trading between 8006-8128
Conclusions from intra day chart analysis
As most Global markets closed strong last Friday and resultant all the Asian markets were trading in Green and some markets were more than 1.5% up also today morning therefore 75 Points recovery in first minute after strong opening. Last 27 sessions sideways trading between 7540-8092 and firstly 3 hours consolidation between 8052-8068 as well as higher levels consolidation in last hour between 8111-8128 therefore strong signals rally continuation in the coming sessions.
Once sustaining above the top of last 27 Sessions trading range(8092) will mean fresh rally beginning after previous 4000 points rally(5118-9119) correction completion and it is expected also because last hour consolidation was also seen above the the top 27 Sessions trading range.