Sustaining above 8855 will confirm rally towards and above 9000
Intra Day Chart Analysis & Market Outlook
(20-02-2017)
Nifty-Intra Day Chart (17-Feb-2017):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel after strong opening
2- Consolidation Patterns between 8805-8836
3- Fast slipping from 8855
4- Whole day actual trading between 8805-8896
Conclusions from intra day chart analysis
Although fast slipping after strong opening but down moves were in Bullish Falling Channel and lower levels consolidation Patterns formations also between 8805-8836 therefore rally continuation is expected in next week. As not sustaining at higher levels and closing within previous 9 sessions trading range(8715-8826) at 8821.70 as well as fast slipping again from 8855 last Friday therefore only sustaining 8855 should be watched in the beginning of next week for on going rally continuation confirmations towards and above 9000.