Strong Pull Back rally expectations if Global markets not crashing
Intra Day Chart Analysis & Market Outlook
(19-03-2020)
Nifty-Intra Day Chart (18-Mar-2020):- |
| Just click on chart for its enlarged view |
1- Whole day Down moves in Bullish Falling Channels
2- Whole day actual trading between 8408-9127
Conclusions from intra day chart analysis
Although today closing was near the lower levels of the day after loosing 5.56% points but Whole day Down moves were in Bullish Falling Channels which is a consolidation signal therefore a strong Pull Back rally is expected because Short/Intermediate term indicators have also turned oversold.
Only one hurdle in Pull Back rally is that Global markets situation should not be in crashing mode.