Finally rally above 9000 after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(03-03-2017)
Nifty-Intra Day Chart (02-Mar-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation patterns formations between 8940-8992
2- Sharp fall in last hour
3- Whole day actual trading between 8880-8992
Conclusions from intra day chart analysis
Although closing near the lower levels of the day after sharp fall in last hour but selling patterns were not seen and consolidation patterns formations in first 5 hours therefore view will not be Bearish because today down moves will be cooling down of sentiments which turned heated after 300 points Dow Jones rally last Wednesday.
As above reasons therefore expected that finally rally will be seen above 9000 after follow up consolidation in next 1/2 sessions because Indian markets are Bullish and any deeper correction can not be considered after such 1 day fall.