Watch level for the life confirmation of on going rally
Nifty-Intra Day Chart Analysis &
Market Outlook(03-07-2020)
Nifty-Intra Day Chart Analysis(02-Jul-2020) |
| Just click on chart for its enlarged view |
1- Consolidation between 10486-10517
2- Slow up moves
3- Selling between 10560-10598
4- Whole day actual trading between 10486-10598
Conclusions from intra day chart analysis
Following lines were told yesterday in "10426 will confirm more Up moves ":-
more up moves are expected towards
next resistances(10553-10596).
As Nifty traded last 2 hours within yesterday mentioned next resistances(10553-10596) and today highest was just above it at 10598.20 and today closing was just below it at 10551.70 therefore this resistance range has become most crucial because follow up selling was seen within this range today also and once sustaining below it(10553) will mean emergence of deeper correction possibility.
Although some supports at lower levels today but after that up moves were slow and higher levels selling also therefore firstly follow up moves and finally sustaining beyond 10553 should be watched in the coming sessions for the life confirmation of on going rally.