Rally continuation expectations towards and above 9000

Intra Day Chart Analysis & Market Outlook

(23-02-2017)

Nifty-Intra Day Chart (22-Feb-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Up moves with intraday corrections
2- More than 2 hours consolidation patterns formations between 8906-8931
3- Whole day actual trading between 8906-8961

Conclusions from intra day chart analysis 

Following lines were told yesterday in "Rally continuation expectations":-

As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected 

Rally continuation with minor correction was seen today but intraday selling patterns were not developed and consolidation through Up moves with intraday corrections and more than  2 hours consolidation patterns formations between 8906-8931 therefore rally continuation is expected towards and above 9000.

Rally continuation expectations

Intra Day Chart Analysis & Market Outlook

(22-02-2017)

Nifty-Intra Day Chart (21-Feb-2017):

Just click on chart for its enlarged view

-Technical Patterns and Formations in today intraday charts

1- Consolidation between 8861-8877
2- Whole day actual trading between 8861-8920

Conclusions from intra day chart analysis 

Although firstly some down moves but lower levels good consolidation between 8861-8877 therefore up moves were seen in last 2 hours. As Very Short Term indicators have turned overbought therefore minor correction can not be ruled out but on going rally continuation is expected because selling patterns have not been seen yet which are must on intraday and EOD charts for decisive down moves. 

Sustaining above 8855 will confirm rally towards and above 9000

Intra Day Chart Analysis & Market Outlook

(20-02-2017)

Nifty-Intra Day Chart (17-Feb-2017):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

1- Down moves in Bullish Falling Channel after strong opening
2- Consolidation Patterns between 8805-8836
3- Fast slipping from 8855
4- Whole day actual trading between 8805-8896

Conclusions from intra day chart analysis 

Although fast slipping after strong opening but down moves were in Bullish Falling Channel and lower levels consolidation Patterns formations also between 8805-8836 therefore rally continuation is expected in next week. As not sustaining at higher levels and closing within previous 9 sessions trading range(8715-8826) at 8821.70 as well as fast slipping again from 8855 last Friday therefore only sustaining 8855 should be watched in the beginning of next week for on going rally continuation confirmations towards and above 9000.