Follow up consolidation will generate up moves towards next resistances
Nifty-Intra Day Chart Analysis & Market
Outlook(23-04-2021)
Nifty-Intra Day Chart (22-Apr-2021):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
3- Whole day actual trading between 14152-14424
Conclusions from intra day chart analysis
Following conclusive lines were told on 19-04-2021 in "Today trading range will confirm next decisive moves":-
1- Mixed Patterns formation between 14192-14382.
2- firstly Nifty will have to trade and prepare for next decisive moves within and near about today trading range
3- finally sustaining it beyond should be firstly watched tomorrow for next decisive moves beginning confirmations.
Nifty closed between 14192-14382 after huge fall from higher levels on 20-04-2021 and closed little above it at 14406.15 after almost 6 hours trading within this range on 22-04-2021.
Although whole day consolidation was seen on 22-04-2021 through up moves with downward corrections but Nifty closed within resistances between 14369-14420. If follow up consolidation develops then rally will be seen towards following resistances:-
1- 14449-14466
2- 14486-14509
3- 14649-14697(Strong resistances)