Sideways market expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(29-04-2021)
Nifty-Intra Day Chart (28-Apr-2021):-
Technical Patterns formation in today intraday charts
1- Consolidation between 14731-14762
2- Whole day up moves with downward corrections
3- Whole day actual trading between 14695-14890
Conclusions from intra day chart analysis
As firstly consolidation after strong gap up opening therefore whole day up moves were seen with downward corrections and closing was near the higher levels of the day with 1.44% gains.
Following resistances 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":-
F- 14821-14970
Nifty consolidated last 3 hours between above resistance range and closed also within it therefore up moves are expected towards 14970 but resistances are strong hence sideways market is expected tomorrow because complete fresh consolidation is required for sustaining above today highest.