14827-14868 will confirm
next decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(04-02-2021)
Nifty-Intra Day Chart (03-Feb-2021):-
Technical Patterns formation in today intraday charts
1- 180 points sharp down in first 6 minutes after gap up strong opening
2- Up moves in Bearish Rising Channel
3- Selling between 14827-14868
4- Whole day actual trading between 14575-14868
Conclusions from intra day chart analysis
Although 180 points sharp down in first 6 minutes after gap up strong opening but after that whole day up moves were seen.
As firstly Up moves were in Bearish Rising Channel and after that higher levels selling was also seen between 14827-14868 therefore firstly fresh consolidation is required for decisive up moves above today highest.
Expected that Nifty will firstly trade and prepare for next decisive moves within and near about 14827-14868 and sustaining it beyond will confirm it which should be watched tomorrow for confirmations.