Rally continuation expectations towards 11413.85 after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(30-01-2018)
Nifty-Intra Day Chart (29-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Selling between 10144-11172
2- Whole day actual trading between 10076-11172
Conclusions from intra day chart analysis
Although whole day strong trading and closing also at new life time high but some selling also seen at higher levels therefore only Very Short Term correction will be considered for tomorrow. Bullish rally is very much on and such minor corrections are its part,until complete selling will not develop till then rally will remain continued after follow up consolidations.
As some selling at higher levels therefore finally on going rally continuation is expected towards 11413.85 after 1/2 sessions follow up consolidation. Following lines were told yesterday in "11413.85 will confirm Rally continuation or 5 Waves Correction after Budget":-
1- As Union Budget on 1st Feb 2018 and its announcements will form next decisive moves but firstly sustaining beyond 11413.85 should be watched in the coming weeks after Budget because 11413.85 is most crucial.
2- Let complete selling patterns develop on EOD charts and correction beginning confirmation come
Now we are telling before Budget for watching 11413.85 and when Budget was presented on 29-02-2016 then we told following lines at 02:12 AM on 01-03-2016 in "Strongest indications of correction completion at 6825.80 and Fresh Rally above 9119.20"(Just click on this topic link and go through full Outlook):-
1- Strongest indications of last 12 months Long Term correction completion today at 6825.80.
2- Very much expected that finally 6825.80 will be proved the lowest of that correction which begun at 9119.20 on 04-03-2015
3- Finally fresh rally above 9119.20 will be seen before or immediately after Budget 2017-18
When one time Nifty slipped more than 200 points and closed also in Red on Budget 2016-17 day on 29-02-2016 then we updated above most Bullish outlook at 02:12 AM on 01-03-2016 which proved 100% accurate after that in next months,years and till today.