Emergence of rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(15-02-2017)
Nifty-Intra Day Chart (14-Feb-2017):- |
| Just click on chart for its enlarged view |
1- Whole day down moves in Bullish Falling Channels
2- Sharp down in last 20 minutes
3- Whole day actual trading between 8773-8820
Conclusions from intra day chart analysis
Although most time negative zone trading and sharp down in last 20 minutes also but whole day down moves in Bullish Falling Channels which is consolidation pattern therefore emergence of rally continuation expectations above last 7 sessions highest(8826). As Indian markets under performed Global markets therefore some more follow up consolidation is also required for fresh and decisive up moves beginning.
Expected that Nifty firstly trade between today trading range and prepare for fresh rally as well as sustaining it beyond should also be watched for confirmations.