Lalit Dhingra
View Profile

Rally Continuation after follow up consolidations

Lalit Dhingra at 06:30 PM - Jan 21, 2015 ( ) Views: 487

3

Rally Continuation after follow up consolidations

Technical Analysis and Market Outlook

(22-01-2015)

Nifty-Intra Day Chart (21-Jan-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts

 

1- Selling between 8722-8741(Immediate Resistance)

2- Higher levels patterns formation 

3- Up moves in Bearish Rising Channel

4- 3 Times supports and consolidation Patterns between 8690-8713(Immediate Supports)

5- Down moves in Bullish Falling Channel

6- Whole day actual trading between 8690-8741

 

Conclusions from intra day chart analysis 

 

As very short term Oscillators were overbought and sentiment turned heated also after last 4 sessions strong rally therefore cooling down was required and it was seen today through whole day sideways trading within 51 points. Intraday patterns of today are completely mixed because both buying and selling patterns formation and more preparation is firstly required within and near about today trading range(8690-8741) for next decisive moves/trend.

 

Follow up moves with sustaining beyond today trading range should be firstly watched tomorrow for next decisive moves confirmations but finally rally continuation is expected above today highest(8741) after follow up consolidations. 

 

As Dow Jones'Futures is now trading more than 80 points down and if such weakness does reflect tomorrow in Asian markets also then weakness may be firstly seen in Indian markets but expected that finally rally continuation will be seen because fresh up moves are on after 31 sessions correction completion on 20-01-2015.


Login to participate in discussion.



Top Gainers

LAKSHMI VILAS BANK LTD 89.00 9.40 (11.81%)
SADBHAV INFRA PROJ LTD. 113.00 11.20 (11.00%)
ENERGY DEVE. CO.LTD 12.15 1.10 (9.95%)
GOLDSTONE TECHNOLOGIES LT 25.60 2.30 (9.87%)
HINDUSTAN OIL EXPLORATION 138.90 8.35 (6.40%)
DLF LIMITED 152.80 8.45 (5.85%)
DCM SHRIRAM LIMITED 406.00 22.45 (5.85%)
JUBILANT FOODWORKS LTD 1275.00 67.00 (5.55%)
HINDUSTAN ZINC LIMITED 284.95 14.95 (5.54%)
NOIDA TOLL BRIDGE CO LTD 7.65 0.40 (5.52%)



Top Losers

PNB HOUSING FIN LTD. 705.05 -159.90 (-18.49%)
MINDTREE LIMITED 818.05 -159.90 (-16.35%)
INDIABULLS HSG FIN LTD 660.60 -128.05 (-16.24%)
OM METALS INFRAPRO LTD 29.25 -3.90 (-11.76%)
DEWAN HOUSING FIN CORP LT 210.00 -25.90 (-10.98%)
H.G.INFRA ENGINEERING LTD 201.00 -24.40 (-10.83%)
IIFL HOLDINGS LIMITED 385.00 -46.25 (-10.72%)
INDIABULLS REAL EST. LTD 75.40 -8.35 (-9.97%)
GTPL HATHWAY LIMITED 92.70 -10.25 (-9.96%)
SREI INFRASTRUCTURE FINAN 28.50 -3.15 (-9.95%)