Still rally continuation expectations above last 10 sessions trading range highest
Intra Day Chart Analysis & Market Outlook
(28-03-2017)
Nifty-Intra Day Chart (27-Mar-2017):-
 |
| Just click on chart for its enlarged view |
1- Minor selling between 9072-9087
2- Consolidation between 9025-9040
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 9025-9087
Conclusions from intra day chart analysis
As following reasons therefore slipping fast after weak opening:-
1- Dow's Futures weaker trading by more than 120 points.
2- Reliance Industries shares crashing as Sebi curbs its futures trading
3- Skymet Weather has predicted that the upcoming Southwest Monsoon 2017 is likely to be below normal.
Following lines were told yesterday in "Finally rally after follow up consolidation":-
finally rally will be seen after follow up consolidation within last 9 sessions trading range(9020-9186)
Following lines were told on 22-03-2017 in "Finally rally continuation expectations after follow up consolidation within and above gap support ":-
1- gap between 8976-9062 and this gap is next strong support of Nifty.
2- Still expected that finally rally will remain continued after follow up consolidation within and above mentioned gap support
As today deeper down moves were due to above mentioned negative news and Nifty got support within last 10 sessions trading range(9020-9186) at 9024.65 therefore same Still same view that finally rally will remain continued above last 10 sessions trading range highest(9186) after follow up consolidation within and above mentioned gap support.