US markets led rally continuation toward next resistances
Intra Day Chart Analysis & Market Outlook
(06-04-2018)
Nifty-Intra Day Chart (05-Apr-2018):- |
| Just click on chart for its enlarged view |
1- Consolidation between 10228-10260
2- Consolidation between 10258-10285
3- Sharp up after RBI Credit policy announcements
4- Whole day actual trading between 10228-10331
Conclusions from intra day chart analysis
As higher levels good selling between 10242-10279 yesterday therefore correction continuation was expected after follow up selling but blasting US markets led Bullish moves were seen in all the Global markets resultant strong rally developed in Indian markets also.
Although good selling was seen between 10242-10279 yesterday but more than 5 hours consolidation within and near about this range between 10228-10285 today therefore sharp up moves after RBI Credit policy announcements.
Last 11 sessions trading was between 9952-10279 and this range was forcefully broken out today therefore US markets led rally continuation is expected toward following next resistances:-
1- 10378-10420
2- 10446-10478
Technical analysis has been updated above but US markets led violent volatility in all the Global markets therefore its impact on Indian markets moves should also be watched.