Rally Continuation after Follow up Consolidation
Intra Day Chart Analysis & Market Outlook
(23-09-2016)
Nifty-Intra Day Chart (22-Sep-2016):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 8838-8858
3- Up moves with intraday corrections in last hours
4- Whole day actual trading between 8838-8893
Conclusions from intra day chart analysis
As blasting global markets today morning and in reaction huge gap up opening as well as whole day consolidation patterns formations therefore today started rally continuation is expected. Next resistances are as follows:-
1- 8874-8902
2- 8935-8956
Follow up consolidation within and near about mentioned resistances as well as valid break out of 8956 will confirm rally continuation which should also be watched in the coming 1/2 sessions.