Firstly watch next resistances for the life of expected Pull Back rally
Intra Day Chart Analysis & Market Outlook
(08-02-2018)
Nifty-Intra Day Chart (07-Feb-2018):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Whole day actual trading between 10447-10590
Conclusions from intra day chart analysis
Although Nifty closed near the higher levels of the day but we told following conclusive line yesterday in "Watch psychological level amid correction continuation expectations":-
Correction is on and its continuation is expected.
Correction was seen today through negative closing at the lower levels of the day after slipping more than 150 points from intraday higher levels but consolidation was also developed though Down moves in Bullish Falling Channels therefore Pull Back rally is expected tomorrow.
As next resistances(gap) are betweeen 10703-10736 therefore firstly sustaining it beyond should be watched for the life of expected Pull Back rally.