Rally after Very Short Term correction
Intra Day Chart Analysis & Market Outlook
(20-12-2017)
Nifty-Intra Day Chart (19-Dec-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation between 10406-10429
2- Up moves in last hours
3- Whole day actual trading between 10406-10472
Conclusions from intra day chart analysis
Firstly more than 4 hours consolidation between 10406-10429 and after that last hours up moves and closing near the lower levels of the day as well as no selling patterns formations today therefore view will remin Bullish.
As Very Short indicators have turned overbought therefore Very Short Term correction can not be ruled out in the coming sessions but until Nifty will not sustain below today lowest after fresh selling till then decisive down moves will not be seen because good lower levels consolidation today.