Follow up consolidation will mean fresh rally above 10500

Intra Day Chart Analysis & Market Outlook

(22-12-2017)

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

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Down moves in Bullish Falling Channel
2- Consolidation Patterns formation between 10427-10458
3- Whole day actual trading between 10427-10473

Conclusions from intra day chart analysis 

Following lines were told on 19-12-2017 in "Rally after Very Short Term correction":-

1- view will remin Bullish
2- Very Short Term correction can not be ruled out in the coming sessions

Very Short Term correction was seen in both previous sessions and today closing also near the lower levels of the day but whole day today trading was with consolidation Patterns formation therefore up moves are expected tomorrow. As some selling between 10490-10485 on 20-12-2017 therefore follow up consolidation tomorrow will mean fresh rally above 10500 in the coming week.

As busy therefore Stock Market Outlook of today(21-12-2017) is not being updated.

Rally after Very Short Term correction

Intra Day Chart Analysis & Market Outlook

(20-12-2017)

Nifty-Intra Day Chart (19-Dec-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

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.

As busy therefore Stock Market Outlook of today(19-12-2017) is not being updated.

Strong rally after BJP victory in Gujarat Election   

Intra Day Chart Analysis & Market Outlook

(18-12-2017)

Nifty-Intra Day Chart (15-Dec-2017):-

Just click on chart for its enlarged view

Technical Patterns formation in today intraday charts

1- Whole day all the down moves in Bullish Falling Channels
2- Whole day actual trading between 10320-10373

Conclusions from intra day chart analysis 

Although huge gap up opening and closing near the lower levels of the day after continuous slipping but view will be Bullish because whole day all the down moves were in Bullish Falling Channels. 

As there may be some uncertainity due to Gujarat assembly election results therefore some volatility can not be ruled out in first 3 hours but expected that finally strong rally will be seen after BJP victory(more than 130 seats) in Election.