Finally rally above 9200
Intra Day Chart Analysis & Market Outlook
(21-03-2017)
Nifty-Intra Day Chart (20-Mar-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation Patterns between 9117-9127
2- Whole day actual trading between 9117-9147
Conclusions from intra day chart analysis
Although whole day negative zone trading and 0.36% down closing also but good consolidation Patterns formations between 9117-9127 therefore some up moves are expected tomorrow.
Following lines were told yesterday in "Rally continuation expectations above 9200 after follow up consolidation":-
1- good consolidation was seen between 9130-9140 on 16-03-2017
2- Selling between 9156-9170
3- Last 2 sessions actual trading between 9130-9186 without one sided intraday patterns formations therefore Nifty has to traded and prepare for next decisive moves within this range which will be done in the beginning of next week
Although most time trading below 8130 today but good consolidation was seen below it therefore view will not be Bearish and once sustaining above 9140 will mean strong indication of fresh up moves beginning. As selling was seen below 9170 last Friday therefore sustaining above 9170 is must after follow up complete consolidation for next rally beginning.
As lower levels consolidation today also after good consolidation on 16-03-2017 therefore still expected that finally rally will be seen above 9200 after follow up consolidation.