Strong rally after follow up consolidation
Intra Day Chart Analysis & Market Outlook
(18-07-2019)
Nifty-Intra Day Chart (17-Jul-2019):- |
| Just click on chart for its enlarged view |
1- Up moves with intraday corrections
2- Down moves in Bullish Falling Channels
3- Minor selling patterns formations
4- Whole day actual trading between 11652-11706
Conclusions from intra day chart analysis
Following lines were told yesterday in "Rally after sideways consolidation":-
tomorrow will be sideways consolidation day which is expected between 11639-11702.
As was told yesterday 100% same happened today and Nifty traded sideways between 11651.15-11706.65.
Although minor selling patterns formations but good consolidation also through Up moves with intraday corrections and Down moves in Bullish Falling Channels therefore on going rally continuation possibility is alive.
Once follow up consolidation tomorrrow will mean strong rally towards next resistance(11798) after sustaining above today highest.