watch levels for next Short Term trend confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(14-01-2021)
Nifty-Intra Day Chart (13-Jan-2021):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
2- Down moves in Bullish Falling Channel
3- Up moves in Bearish Rising Channel
4- Whole day actual trading between 14436-14653
Conclusions from intra day chart analysis
Although gap up opening but selling developed and down moves were seen with upward corrections therefore Nifty slipped more than 200 points from higher levels.
As some consolidation at lower levels through Down moves in Bullish Falling Channel hence up moves in last hours which were in Bearish Rising Channel therefore follow up selling will be understood at higher levels today.
Both lower levels some supports and higher levels good selling between 14436-14653 therefore firstly sustaining beyond this range should be watched tomorrow for next Short Term trend confirmations.