Level will confirm next big moves
Nifty-Intra Day Chart Analysis &
Market Outlook(13-04-2021)
Nifty-Intra Day Chart (12-Apr-2021):-
Technical Patterns formation in today intraday charts
1- 330 Points crash in first 6 minutes
2- Down moves with upward corrections
3- Last 3 hours sideways trading between 14249-14360
4- Whole day actual trading between 14249-14652
Conclusions from intra day chart analysis
Following lines were told on 10-03-2021 in "Finally 45 sessions range break out Will generate huge moves and till then trade according to given levels":-
1- Sufficiently good selling patterns formations in last 2 sessions of previous week and if follow up selling develops then down moves below last 3 sessions lowest(14650) will be seen in the coming 2/3 sessions of next week.
2- down moves below last Friday lowest are expected in the beginning of next week.
Although up moves were seen in previous week but intraday patterns were showing selling patterns therefore we posted following topics in last week:-
Topic name for 09-03-2021 Outlook was- "Follow up complete selling will mean sharp fall"
Topic name for 08-03-2021 Outlook was- "14712 will confirm sharp fall"
Topic name for 07-03-2021 Outlook was- "Correction continuation expectations towards next supports"
We daily told in last week only and only for Correction continuation and sharp fall which was seen on 12-03-2021 when Nifty was once 586 points down.
Nifty crashed 330 Points in first 6 minutes and after that selling remained continued through Down moves with upward corrections.
As minor supports at lower levels and last 3 hours sideways trading between 14249-14360 also therefore firstly sustaining beyond this range sgould be watched in the coming sessions because:-
1- Sustaining above 14360 will confirm a Pull Back rally towards next resistances.
2- Sustaining below 14249 will confirm breaking down of last 46 sessions like big trading range which will result huge fall.
As sustaining beyond 14249 will confirm next big moves therefore should be firstly watched in the coming sessions.