Finally rally continuation after few sessions follow up consolidation
Intra Day Chart Analysis & Market Outlook
(25-04-2019)
Nifty-Intra Day Chart (24-Apr-2019):- |
| Just click on chart for its enlarged view |
1- Consolidation between 11579-11611
2- More than 1% strong Pull back rally
3- Whole day actual trading between 11579-11740
Conclusions from intra day chart analysis
Following line was told yesterday in "Pull back rally expectations":-
Pull back rally is expected tomorrow
As was told yesterday,100% same happened and Nifty closed after gaining 150 points.
As very Short Term indicators have turned overbought after strong rally today and sentiment has been heated up also therefore market has to cool down through sideways trading near about today highest and that will be firstly done tomorrow.
Next last resistances of Nifty are lying just above today highest between 11739-11811 and market has to consolidate also for fresh rally therefore follow up moves should be firstly watched in the coming sessions.
As resistances just below 11811 and supports just below 11611 therefore Nifty will firstly trade and prepare for next decisive moves between 11611-11811 but expected that finally rally will remain continued after follow up consolidation in the next few sessions.