Rally continuation amid Very Short Term correction and intraday volatility possibility
Intra Day Chart Analysis & Market Outlook
(10-01-2020)
Nifty-Intra Day Chart (09-Jan-2020):- |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Last 5 hours up moves with downward corrections
3- Whole day actual trading between 12133-12224
Conclusions from intra day chart analysis
As firstly consolidation through Down moves in Bullish Falling Channel and after that more than 5 hours up moves with intraday corrections and no selling patterns formations today therefore on going rally will remain continued towards next resistances between 12265-12287. Follow up consolidation and once sustaining above 12287 will mean fresh rally with new life time highest formations but Very Short Term correction and intraday volatility can not be ruled out because Very Short Term indicators have turned over bought.