Lalit Dhingra
View Profile

Bulls are roaring like Lion

Lalit Dhingra at 07:13 PM - Jan 22, 2015 ( ) Views: 698

3 2

Bulls are roaring like Lion

Technical Analysis and Market Outlook

(23-01-2015)

Nifty-Intra Day Chart (22-Jan-2015):-

Just click on chart for its enlarged view

Technical Patterns and Formations in today intraday charts


1- Selling between 8762-8772 (Immediate Resistances)

2- Selling between 8760-8766 (Immediate Resistances)

3- Consolidation between 8728-8742 (Immediate Supports)

4- Whole day Down moves in Bullish Falling Channel

5- Whole day actual trading between 8728-8774

 

Conclusions from intra day chart analysis 

 

Although firstly selling and more than 3 hours slipping also from higher levels but Down moves in Bullish Falling Channel and lower levels consolidations also therefore it is very much clear that as such selling was not seen today that would suggest correction beginning.

 

All trends are up,Indian markets are most Bullish and fresh rally is on after correction completion confirmation on 20-01-2015 therefore until complete selling patterns will not develop till then decisive down moves or any big correction will not be considered. As Oscillators are overbought and sentiment is heated therefore minor,intraday or 1/2 sessions correction may be seen for cooling down but finally rally will remain continued.


(1 to 1 out of 1) - Latest Replies on Top | First | << Previous | Next >> | Last |
Lalit Dhingra at 09:19 AM - Jan 23, 2015 ( )

Although Nifty is 93 points up immediately after opening today but we were expecting such strong market therefore we told yesterday that:-

 Bulls are roaring like Lion

1 to 1 out of 1

Login to participate in discussion.