Sideways market to prepare for next decisive up moves
Intra Day Chart Analysis & Market Outlook
(16-04-2019)
Nifty-Intra Day Chart (15-Apr-2019):-
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1- Whole day up moves with intraday corrections
2- Whole day actual trading between 11649-11704
Conclusions from intra day chart analysis
Following lines were told at on 13-04-2019 in "Minimum 10% rally after more than 350 seats victory of NDA on 23-05-2019":-
finally rally continuation is expected above last Friday highest(11657) but follow up consolidation is also required because resistances between 11645-11682
As Nifty traded most time within above mentioned resistances today with intraday corrections therefore finally rally continuation is expected after follow up consolidation because more resistances are also lying between 11728-11761.
12 Sessions trading between 11550-11761 with lower levels buying and higher levels selling therefore still expected that nifty will remain sideways within this range tomorrow and prepare for next decisive up moves in the coming seeks.