Firstly fresh consolidation and only after that rally continuation towards following next resistances
Intra Day Chart Analysis & Market Outlook
(06-02-2020)
Nifty-Intra Day Chart (05-Feb-2020):- |
| Just click on chart for its enlarged view |
1- More than 4 hours Mixed Patterns formation between 11980-12050
2- Slow up moves in last 2 hours
3- Whole day actual trading between 11954-12098
Conclusions from intra day chart analysis
Although today closing was at the higher levels of the day but before that genuine consolidation patterns were not seen because firstly more than 4 hours trading was with Mixed Patterns formations and after that last 2 hours up moves were slow which is an indication of some selling also therefore firstly fresh consolidation near about today highest and after that sustaining above it should be watched tomorrow for rally continuation towards following next resistances:-
1- 12125-12169
2- 12160-12216