Rally continuation after very Short Term Correction completion
Intra Day Chart Analysis & Market Outlook
(12-01-2017)
Nifty-Intra Day Chart (11-Jan-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation between 8332-8346
2- Up moves in Bearish Rising Channel between 8364-8389
3- Whole day actual trading between 8323-8389
Conclusions from intra day chart analysis
Firstly up moves after gap up opening and after that consolidation also but Up moves in Bearish Rising Channel between 8364-8389 last 2 hours therefore follow up consolidation is firstly required for decisive up moves above 8400.
Expected that Nifty will firstly trade and prepare for next decisive moves within and near about 8364-8389 but high possibility of rally continuation above 8400 after very Short Term correction completion within today trading range(8323-8389)