Rally continuation hopes are alive
Intra Day Chart Analysis & Market Outlook
(14-01-2020)
Nifty-Intra Day Chart (13-Jan-2020):- |
| Just click on chart for its enlarged view |
1- Minor selling between 12330-12337
2- Down moves in Bullish Falling Channels
3- Consolidation between 12317-12337
4- Whole day actual trading between 12295-12337
Conclusions from intra day chart analysis
Whole day trading within 42 points between 12295-12337 with higher levels minor selling and lower levels good consolidation therefore rally continuation hopes above today highest are alive(12337).
As Short Term indicators have turned Over bought therefore Short Term correction may start any day but till now intraday charts of Nifty has not shown sufficient selling patterns hence any deeper correction will not be expected.