Finally Rally Expectations after follow up Consolidation
Intra Day Chart Analysis & Market Outlook
(19-01-2017)
Nifty-Intra Day Chart (18-Jan-2017):- |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channel
2- Selling between 8442-8460
3- Consolidation between 8398-8424
4- Whole day actual trading between 8398-8460
Conclusions from intra day chart analysis
Although 27 points up moves in first minute but after that up moves in Bearish Rising channel and higher levels selling also therefore down moves in Mid Session of the day. As lower levels consolidation also in last 3 hours therefore today whole day trading will be understood with Mixed patterns formations and firstly Nifty will have to trade and prepare for next decisive moves within today trading range.
As last 5 sessions trading between 8374-8460 with both selling and consolidation patterns formations therefore Nifty will trade and prepare for prepare for next decisive moves beyond this trading range which will be firstly done within and near about it in the coming sessions.
Although today closing near the lower levels of the day but lower levels consolidation also therefore expected that finally rally will remain continued above 8460 after follow up consolidation in the coming 1/2 sessions.