Rally continuation after fresh consolidation
Intra Day Chart Analysis & Market Outlook
(02-07-2019)
Nifty-Intra Day Chart (01-Jul-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Consolidation between 11851-11866
3- Up moves in Bearish Rising Channel
4- Mixed Patterns formations in last hour
5- Whole day actual trading between 11831-11884
Conclusions from intra day chart analysis
As firstly consolidation through Down moves in Bullish Falling Channels and after that consolidation in sideways trading also therefore emergence of rally continuation expectations. Although minor selling at higher levels but Mixed Patterns formations in last hour also therefore some more consolidation is required within and near about today trading range for sustaining above today highest.
It should also be kept in mind that Indian markets completely under performed all the Global markets today and some selling on the back of Global markets led heated sentiments can not be ruled out. As lower levels good consolidation today therefore expected that Nifty will firstly trade and prepare for next decisive up moves within today trading range but expected that finally rally will remain continued after fresh consolidation within today trading range.