Rally continuation expectations towards and above 9000
Intra Day Chart Analysis & Market Outlook
(23-02-2017)
Nifty-Intra Day Chart (22-Feb-2017):-
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| Just click on chart for its enlarged view |
1- Up moves with intraday corrections
2- More than 2 hours consolidation patterns formations between 8906-8931
3- Whole day actual trading between 8906-8961
Conclusions from intra day chart analysis
Following lines were told yesterday in "Rally continuation expectations":-
As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected
Rally continuation with minor correction was seen today but intraday selling patterns were not developed and consolidation through Up moves with intraday corrections and more than 2 hours consolidation patterns formations between 8906-8931 therefore rally continuation is expected towards and above 9000.