Rally after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(12-12-2017)
Nifty-Intra Day Chart (11-Dec-2017):-
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1- Mixed Patterns formation between 10309-10322
2- Consolidation between 10283-10301
3- Mixed Patterns formation between 10312-10329
4- Whole day actual trading between 10283-10329
Conclusions from intra day chart analysis
Rally is on and whole day positive zone today trading with lower levels consolidation but higher levels trading also with Mixed Patterns formation as well as following resistances above today highest therefore firstly Nifty has to consolidate for decisive up moves:-
1- 10340-10364
2- 10383-10402
3- 10440-10482
Expected that rally will remain continued but follow up consolidation is must and Very Short Correction also can not be ruled out because Very Short Term indicators have also turned overbought and above resistances are also lying.