Post Budget Rally continuation after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(11-03-2016)
Nifty-Intra Day Chart (10-Mar-2016):- |
| Just click on chart for its enlarged view |
1- Selling between 7500-7530
2- Support between 7448-7466
3- Consolidation between 7477-7505
4- Whole day actual trading between 7448-7530
Conclusions from intra day chart analysis
Following line was told yesterday in "Post Budget Rally Continuation after Minor Correction"
firstly minor 1/2 sessions correction may be seen
Following lines were told at 11:04 AM today in "Post-open Outlook(10-03-2016)":-
Next supports are between 7430-7446
Firstly minor correction was told yesterday and it was seen through through whole day day negative zone trading and 45.65 points down closing today. Next supports are between 7430-7446 was told at 11:04 AM today and Nifty could not slip below it and today lowest remained just above it at 7447.40.
As lower levels supports and some consolidation in last hours today therefore expected that Post Budget Rally will remain continued above today highest(7547.10) but some follow up consolidation is also required within or near about 7500-7530 because some selling was seen between this range in first hour today.