Correction continuation expectations
towards next supports
Nifty-Intra Day Chart Analysis &
Market Outlook(07-04-2021)
Nifty-Intra Day Chart (06-Apr-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 14712-14779
2- Up moves in Bearish Rising Channels
3- Whole day actual trading between 14574-14779
Conclusions from intra day chart analysis
Following lines were told at 01:17 AM on 06-04-2021 in "Immediate Resistances Will confirm today started Pull Back rally continuation":-
Firstly sustaining above 14787 should be watched tomorrow for today started Pull Back rally continuation confirmations towards those resistance
Firstly sustaining above 14787 was told
and today highest was just below it at 14779.10.
Selling was seen between 14748-14787 yesterday and follow up selling was seen within and below it today between 14712-14779 therefore yesterday resistance range has become stronger and immediate resistance will be between 14712-14787 and:-
1- Until Nifty will not sustain above 14787 after complete consolidation till then decisive up moves will not be seen above 14787
2- Once sustaining below 14712 will mean Short Term correction towards following next supports:-
1- 14460-14546
2- 14424-14463
3- 14365-14390
4- 14272-14314
As yesterday resistance range has become stronger today therefore correction continuation is expected towards above mentioned next supports.