Finally rally continuation after fresh consolidation
Intra Day Chart Analysis & Market Outlook
(25-09-2019)
Nifty-Intra Day Chart (24-Sep-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Consolidation between 11540-11604
3- Whole day actual trading between 11540-11655
Conclusions from intra day chart analysis
Although most time negative zone trading and Red closing also but intraday patterns are shoring consolidation patterns formations therefore on going rally continuation is expected.
As 2 sessions extremely strong rally from the beginning of Nirmala Sitaraman Press conference last Friday therefore Very Short Indicators have turned overbought and sentiment is also heated therefore 1/2 sessions sideways trading for cooling down is being seen and fresh consolidation has also developed today hence finally rally will be seen.