Finally rally after 2 sessions 1003 points rally correction completion
Intra Day Chart Analysis & Market Outlook
(26-09-2019)
Nifty-Intra Day Chart (25-Sep-2019):- |
| Just click on chart for its enlarged view |
1- 4 Hours Mixed Patterns formation between 11464-11525
2- Consolidation between 11417-11458
3- Whole day actual trading between 11417-11538
Conclusions from intra day chart analysis
As weaker closing of US markets yesterday therefore all the Asian markets were trading in negative zone today morning hence sentiment turned dampened and resultant sharp down moves were seen after weak opening in Indian markets.
Although 1.28% negative closing today but clear selling patterns were not seen and lower levels consolidation also developed after 4 Hours Mixed Patterns formation therefore emergence of rally continuation expectations because selling patterns were not seen yesterday also and today down moves were due to weakness in all the Global markets.
As 1003 points like huge rally in only 2 sessions after Nirmala Sitaraman Press conference therefore its correction is on and expected that finally rally will be seen above the top of last Monday highest(11694.9) but follow up consolidation for cooling down is also required because sentiment has turned heated after Modi ji meetings with many Industrialists in USA and market favoring big announcements by Nirmala Sitaraman in Press conference last Friday.