Watch 13564-13715 for next decisive moves confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(24-12-2020)
Nifty-Intra Day Chart (23-Dec-2020):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Whole day actual trading between 13433-13619
Conclusions from intra day chart analysis
As whole day up moves were with downward corrections therefore only some up moves will be considered above today highest(13619) because:-
1- Fresh selling was above 13564 before sharp fall on 21-12-2020
2- Strong resistances are lying between 13715-13777
As Very Short Term indicators have turned overbought and above mentioned resistances are above today highest therefore firstly Nifty has to consolidate near about today highest for more decisive up moves.Fresh selling and down moves without moving above 13715 will mean correction towards the lowest of last Monday(13132).
Firstly Nifty has to prepare for next decisive moves within and near about 13564-13715 and its valid break out/down will confirm it therefore should be watched tomorrow for confirmations.