Rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(17-02-2017)
Nifty-Intra Day Chart (16-Feb-2017):- |
| Just click on chart for its enlarged view |
1- Consolidation between 8720-8743
2- Follow up consolidation at higher levels after up moves
3- Whole day actual trading between 8720-8783
Conclusions from intra day chart analysis
Although yesterday closing was near the lower levels of the day after sharp down from higher levels but we were not Bearish and posted following named topic yesterday:-
As lower levels consolidation and after that up moves with follow up consolidation therefore on going rally continuation is expected tomorrow. Nifty is sideways between 8715-8826 for the last 9 sessions and firstly sustaining above 8826 should also be watched for fresh and decisive up moves towards 9000 and it is expected also.