Watch Levels amid Rally continuation
Intra Day Chart Analysis & Market Outlook
(30-10-2017)
Nifty-Intra Day Chart (27-Oct-2017):-
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| Just click on chart for its enlarged view |
1- More than 5 hours trading was with Mixed Patterns formation between 10339-10360
2- Last hour Down moves in Bullish Falling Channel
3- Whole day actual trading between 10312-10366
Conclusions from intra day chart analysis
Rally continuation was told and it was seen also through Green opening and most time positive zone trading on 27-10-2017.
Although last Friday closing was near the lower levels of the day but last hour Down moves were in Bullish Falling Channel and before that more than 5 hours trading was with Mixed Patterns formation between 10339-10360. As complete selling patterns were not seen therefore view will not be Bearish because until complete selling will not develop till then decisive down moves will not be seen.
Indian markets are Bullish and last Friday like intraday correction are its part for cooling down of sentiments therefore rally continuation will be expected in the beginning of next week but follow up moves and sustaining beyond 10339-10360 should also be firstly watched for sustaining above 10366 because more than 5 hours trading was with Mixed Patterns formation within this range last Friday.