Finally Rally continuation after more down moves
Intra Day Chart Analysis & Market
Outlook(28-07-2017)
Nifty-Intra Day Chart (27-Jul-2017):-
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1- Selling between 10081-10114
2- Selling between 10067-10083
3- Sharp fall in last Hour
4- Whole day actual trading between 10006-10114
Conclusions from intra day chart analysis
Although strong up moves after gap up opening but clear selling patterns formations between 10067-10114 therefore these levels be first and strong resistance and some more down moves will be seen below today lowest(10005.50) and towards next supports.
As good selling today and strong supports are lying between 9952-9978 therefore Nifty will remain sideways and prepare for next decisive big moves between 9952-10114 and finally valid break out of these crucial levels will confirm next Trend.
Certainly fresh consolidation is firsty required for decisive up moves above today righest and also expected that finally rally will remain continued after fresh consolidation between 9952-10114 because any deeper correction van not be considered from only one day intraday selling and until complete follow up selling patterns will not develop on EOD charts till then any deeper correction will not be seen.