14649-14697 will confirm next trend
Nifty-Intra Day Chart Analysis &
Market Outlook(28-04-2021)
Nifty-Intra Day Chart (27-Apr-2021):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Whole day actual trading between 14485-14667
Conclusions from intra day chart analysis
As whole day up moves with downward corrections and selling patterns were not seen therefore on going Pull back rally continuation will be expected tomorrow but following resistances should be firstly watched tomorrow which were updated on 24-04-2021 in "Forceful break down will confirm deeper correction and break out will generate 1st signal of up moves beginning":-
D- 14649-14697(Strong resistances)
Nifty traded some time in last hour within above mentioned strong resistances and closed also within it but complete fresh consolidation and sustaining above 14697 is firstly required for on going rally continuation. As very Short Term indicators have turned over bought and strong resistances above today closing therefore if fresh selling develops tomorrow then correction of last 4 sessions rally will be seen.
As next trend confirmation will be sustaining beyond 14649-14697 therefore should be firstly watched in the coming sessions.