Rally continuation expectations after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(09-01-2018)
Nifty-Intra Day Chart (08-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Mixed Patterns formation between 10597-10623
2- Whole day actual trading between 10597-10631
Conclusions from intra day chart analysis
Bullish rally is on and whole day strong trading today after gap up opening but with Mixed Patterns formation therefore some consolidation is firstly required for decisive up moves. Although minor selling patterns formations but view will not be Bearish because consolidation patterns were also seen and until complete selling patterns will not develop till then any type of correction will not be seen.
Rally continuation expectations are very much alive but after follow up consolidation.