15803-15845 will confirm
next decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(06-07-2021)
Nifty-Intra Day Chart (05-Jul-2021):-
Technical Patterns formation in today intraday charts
1- Sharp up after gap up opening
2- More than 6 hours trading between 15803-15845 with Up moves in Bearish Rising Channels and downward corrections
3- Whole day actual trading between 15763-15845
Conclusions from intra day chart analysis
Following lines were told on 03-07-2021 in "Last 24 Sessions trading range break out will confirm more than 3% one sided big moves":-
1- Short Term up moves are on cards.
2- up moves are expected in the beginning of next week above last 2 sessions highest(15755)
3- up moves are expected in the beginning of next week.
4- Selling(Resistances) in last 24 Sessions are as follows:-
A- 15810-15839
B- 15840-15874
C- 15873-15894
As was told on 03-07-2021 and 100% same happened today firstly through sharp up after gap up opening and after that more than 6 hours trading within and near about above mentioned 1st resistance range between 15803-15845.
As both selling through Up moves in Bearish Rising Channels and consolidation also was seen with downward corrections in last 6 hours today therefore Nifty will firstly trade between 15803-15845 tomorrow and finally sustaining it beyond will confirm next decisive moves beginning hence should be firstly watched for:-
1- Decisive up moves beginning above 15845 but firstly more consolidation is required because above mentioned 2 resistances are lying above it.
2- Sustaining below 15803 will mean sharp fall.