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Rally continuation expectations after follow up consolidations
Intra Day Chart Analysis & Market Outlook
(25-01-2018)
Nifty-Intra Day Chart (24-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Whole day sideways trading between 11047-11109
Conclusions from intra day chart analysis
Although Whole day sideways trading and flat closing today but some consolidation was also seen through Down moves in Bullish Falling Channel therefore signals of rally continuation above today highest.
As Very Short Term indicators are overbought therefore Very Short Term correction is very much due and it was seen today through sideways trading with some consolidation but expected that finally rally will remain continued after follow up consolidation within and near about today trading range.
Rally continuation with only Very Short Term correction expectations
Intra Day Chart Analysis & Market Outlook
(24-01-2018)
Nifty-Intra Day Chart (23-Jan-2018):-
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| Just click on chart for its enlarged view |
1- Consolidation between 11028-11050
2- Consolidation between 11050-11092
3- Whole day actual trading between 10995-11092
Conclusions from intra day chart analysis
Bullish rally is very much on and until complete selling will not develop till then rally will remain continued because intraday consolidation patterns formations today. As Very Short Term indicators are overbought therefore only Very Short Term correction will be considered which may be sen any day.
Fresh rally after Very Short Term correction
Intra Day Chart Analysis & Market Outlook
(22-01-2018)
Nifty-Intra Day Chart (19-Jan-2018):-
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Just click on chart for its enlarged view |
1- Consolidation between 10818-10857
2- Last hour Up moves in Bearish Rising Channel
3- Whole day actual trading between 10794-10906
Conclusions from intra day chart analysis
Following lines were told on 17-01-2018 in "Rally continuation Expectations":-
rally continuation will be seen because no selling patterns formations today.
Although rally remained continued in both previous sessions after 17-01-2018 and last Friday closing also at life time highest after gaining 0.72% points but some selling was also seen in last hour through Up moves in Bearish Rising Channel therefore Very Short Term correction is expected before fresh rally in the beginning of next week because Short Term indicators are overbought.
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