Strong Pull Back Rally after stopping of Global markets crashing
Intra Day Chart Analysis & Market Outlook
(11-08-2017)
Nifty-Intra Day Chart (10-Aug-2017):-
 |
| Just click on chart for its enlarged view |
1- Consolidation Patterns between 9836-9892
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 9777-9892
Conclusions from intra day chart analysis
As intraday consolidation patters formations on 09-08-2017 therefore Pull Back Rally was expected on 10-08-2017 but crashing like situation was seen in most Asian markets and sentiment was much depressed in the morning so Indian markets also opened weak and closed negative also after whole day negative zone trading.
Although Dow Jones is now trading more than 165 points down after much weaker closing of all European markets today but Indian markets have shown consolidation patterns formations on 10-08-2017 therefore view will not be Bearish and strong Pull Back Rally will be seen if Global markets crashing will stop despite SGX Nifty now trading 87 points down.