Levels will confirm next Trend
Intra Day Chart Analysis & Market Outlook
(29-09-2017)
Nifty-Intra Day Chart (28-Sep-2017):-
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1- Mixed Patterns formation between 9688-9758
2- Sharp up in last hour
3- Whole day actual trading between 9688-9789
Conclusions from intra day chart analysis
Following conclusive lines were told on 25-09-2017 in "Firstly Watch Levels for the life of on going correction":-
Expected that Nifty will trade between 9690-9920 in the coming sessions and finally sustaining it beyond will confirm the life of on going correction which should be firsly watched.
Above lines were repeated yesterday also in "Market Outlook(28-09-2017) ":-
9690 was given and today lowest was just below it at 9687.55 and Nifty jumped 100 points from there.
correction continuation with a strong Pull Back rally possibility was also told yesterday and 100 points strong Pull Back rally was seen after firstly 48 points intraday correction.
Although sharp up in last hour but before that almost whole day sideways trading with Mixed Patterns formation therefore follow up consolidation is also required for sustaining above today highest. As some consolidation was also seen between 9688-9758 today therefore firstly sustaining it beyond should be watched for:-
1- Above 9758 will mean Pull Back rally continuation but correction completion will be considered after sustaining above next resistances (9790-9834 and 9850-9888)
2- Below 9688 will mean correction continuation towards 9450.