Firstly watch levels for next
decisive moves confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(04-06-2021)
Nifty-Intra Day Chart (03-Jun-2021):-
Technical Patterns formation in today intraday charts
1- Selling at higher levels
2- Down moves in Bullish Falling Channel
3- Up moves with downward corrections
4- Whole day actual trading between 15611-15705
Conclusions from intra day chart analysis
Although strong opening but selling developed therefore down moves were seen. As these first 4 hours Down moves in Bullish Falling Channel and consolidation developed therefore up moves were seen in last 2 hours.
Last hours Up moves were with downward corrections but some selling was also seen in last half hour therefore whole day today trading will be understood with some selling at higher levels and lower levels good consolidation.
As both both intraday buying selling today therefore Nifty will firstly trade and prepare for next decisive moves within today trading range(15611-15705) and finally sustaining it beyond will be its confirmations hence should be firstly watched tomorrow.