Finally Rally Continuation after Follow up Consolidation between 8443-8520
Intra Day Chart Analysis & Market Outlook
(12-07-2016)
Nifty-Intra Day Chart (11-Jul-2016):- |
| Just click on chart for its enlarged view |
1- More than 100 points up in 1st minute after gap up opening.
2- More than 6 hours trading between 8443-8467
3- Whole day actual trading between 8426-8475
Conclusions from intra day chart analysis
As 100 points up in 1st minute after gap up opening with more than 6 hours trading at 1.5% higher levels between 8443-8467 therefore strong signal of Indian markets strength and rally continuation possibility above day's highest(8475.25).
Following resistances were updated on 03-07-2016 in "Rally Continuation Expectations towards its Minimum Target at 8543.65" and also have been repeated more than 5 times in previous Outlooks:-
1- 8470-8520
2- 8575-8652
Nifty tested and closed below 1st resistance today and sentiment has also turned heated after strong rally today therefore coming 1/2 sessions may remain sideways between 8443-8520 for follow up consolidation but expected that finally rally will remain continued after fresh consolidation after confirmation of last week correction completion today.