Finally Rally after Election results declaration led high volatility
Intra Day Chart Analysis & Market Outlook
(23-05-2019)
Nifty-Intra Day Chart (22-May-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 11707-11747
3- Intraday volatility
4- Whole day actual trading between 11683-11684
Conclusions from intra day chart analysis
As whole day good consolidation and no selling patterns formations therefore on going rally continuation is expected after yesterday started Very Short Term correction completion today.
Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-
Following lines were told at 02:06 PM on 18-05-2019 in "Rally above life time high after Modi ji strong victory on 23-05-2019":-
It is confirm that fresh rally above life time highest will be seen in the coming weeks because as per our own analysis Modi ji strong victory with following results will be seen on 23-05-2019:-
1- BJP will win more than 290 seats.
2- NDA will win more than 340 seats.
Nifty moved above life time high yesterday and formed new life time high at 11883.50 before slipping but above mentioned projections are confirm and finally strong rally will remain continued.
It should also be kept in mind that tomorrow is Election results declaration day and intraday volatility will be high which will be guided according to stable Govt formations possibility under Modi ji leadership therefore remin cautious also tomorrow.