Rally beginning today after more than 1.5% strong opening of all European markets
Intra Day Chart Analysis & Market Outlook
(18-12-2015)
Nifty-Intra Day Chart (17--Dec-2015):- |
| Just click on chart for its enlarged view |
1- First 2 Hours down moves despite strong closing of US markets and most Asian markets strong trading.
2- Consolidation between 7738-7772(Immediate Supports)
3- Rally beginning after more than 1.5% strong opening of all European markets
4- Whole day actual trading between 7738-7852
Conclusions from intra day chart analysis
As selling between 7756-7776 yesterday therefore firstly 2 hours slipping and also negative zone trading in first 4 hours despite following most Bullish sentiments:-
1- Dow Jones closed 223 points up after FOMC dovish statement.
2- All Asian markets trading with very good gains.
As firstly consolidation was required after yesterday selling between 7756-7776 therefore consolidation was seen within and below yesterday selling range between 7738-7772 today but strong rally begun after more than 1.5% positive opening of all European markets.
As Global markets rally triggered yesterday after FOMC dovish statement therefore Indian markets participation in the form of Pull Back Rally towards following next resistance:-
1- 7877-7897
2- 7917-7934
3- 7953-7968