Rally Continuation
Intra Day Chart Analysis & Market Outlook
(14-01-2018)
Nifty-Intra Day Chart (13-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Mixed Patterns formation between 10672-10690
2- Up moves with intraday corrections
3- Whole day actual trading between 10598-10690
Conclusions from intra day chart analysis
Following lines were told on 11-01-2018 in "Rally continuation expectations after follow up consolidation":-
1- firstly follow up consolidation is required within or near about today trading range
2- then finally rally continuation will be expected
As there was some selling in first 4 sessions of previous week therefore we continuously daily told for the requirement of follow up consolidation and it was seen last Friday through slipping towards the lowest of previous week and consolidating.
Although first 3 hours trading with Mixed Patterns formation but last 3 hours consolidation through Up moves with intraday corrections last Friday therefore rally continuation will be expected and until complete fresh selling will not develop till then decisive down moves will not be seen despite over bought Short term indicators.