Strong rally after honouring given Levels
Intra Day Chart Analysis & Market Outlook
(15-12-2017)
Nifty-Intra Day Chart (14-Dec-2017):-
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| Just click on chart for its enlarged view |
1- Consolidation between 10142-10186
2- Sharp up in last hour
3- Whole day actual trading between 10142-10276
Conclusions from intra day chart analysis
Following lines were told in previous 2 sessions outlooks:-
The Pull back rally which started from 10033 on 06-12-2017 fused today after gaining 296 points and its correction started but view will not be Bearish and expected that finally rally will remain continued after follow up consolidation in the next 1/2 sessions and Nifty may get supports near about following retracement levels:-
1- 38.2%- 10215
2- 50.0%- 10181
3- 61.8%- 10146
If finally Nifty sustains above today lowest(10169.85) tomorrow then strong rally will be seen in the next 2/3 sessions.
Nifty got support just below 61.8%(10146) at 10141.55 today and closed above yesterday lowest(10169.85) as well as strong rally was seen in last hour today. As market honoured above given levels therefore same following conclusive view which was updated yesterday in "Level will confirm strong rally":-
Strong rally will be seen in the next 2/3 sessions.