Down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(06-05-2021)
Nifty-Intra Day Chart (05-May-2021):-
Technical Patterns formation in today intraday charts
1- RBI Governor Press conference led volatility
2- Up moves in Bearish Rising Channel
3- Selling
4- Whole day actual trading between 14507-14637
Conclusions from intra day chart analysis
Although firstly RBI Governor Press conference led volatility but after that up moves were seen. As intraday selling patterns formations in the last more than 3 hours therefore down moves below today lowest(14507) is expected in the coming 1/2 sessions despite today closing at the top of the day.