Rally continuation expectations
Intra Day Chart Analysis & Market Outlook
(03-12-2019)
Nifty-Intra Day Chart (02-Dec-2019):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channels
2- Mixed Patterns formation between 12024-12061
3- Whole day actual trading between 12024-12122
Conclusions from intra day chart analysis
Although today closing was near the lower levels of the day but consolidation was seen in first 4 hours through Down moves in Bullish Falling Channels therefore rally continuation expectations above today highest(12137.15) are alive.
As Mixed Patterns formation between 12024-12061 in last 2 hours and Dow Jones is now trading more than 200 points despite its Futures was trading more than 100 point up at the time of Indian Stock Markets closing therefore weaker opening canot be ruled but until Nifty will not sustaining below today lowest(12123.70) till then view will not be Bearish and once sustaining above 12061 will mean rally continuation above life time highest.