Rally continuation Expectations
Intra Day Chart Analysis & Market Outlook
(26-07-2016)
Nifty-Intra Day Chart (25-Jul-2016):-
 |
| Just click on chart for its enlarged view |
1- Whole day up moves
2- Whole day actual trading between 8518-8641
Conclusions from intra day chart analysis
Following line was told yesterday in "Valid break out of 8595/8652 will mean Bullish Gates opening":-
As intraday consolidation patterns formations were seen last Friday therefore some up moves can not be ruled out in the beginning of next week
As was told yesterday 100% same happened today and whole day up moves up moves were seen today.
Although flat to weak all Asian markets today morning but Indian markets completely out performed all Global markets and good recovery from lower levels after weak opening today.
Immediate resistances between 8575-8652 were also updated yesterday and Nifty closed within this range today,once its valid break out will mean fresh fast rally because next resistances are above 8800.
Last 10 sessions sideways trading between 8444-8595 and this range is broken out today amid weaker Global markets sentiments therefore expected that finally today started rally will remain continued above 8652 and without sustaining below 8652.