Very Short Term correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(14-07-2021)
Nifty-Intra Day Chart (13-Jul-2021):-
Technical Patterns formation in today intraday charts
1- Consolidation between 15745-15774
2- Up moves with downward corrections
3- Whole day actual trading between 15745-15820
Conclusions from intra day chart analysis
As 4 hours selling between 15750-15789 yesterday therefore firstly Nifty consolidated in first 2 hours within and near about it and then after that up moves started. Although last 4 hours up moves with downward corrections but Very Short Term indicators have turned overbought and multiple resistances are lying above today highest between 15828-15911 therefore Very Short Term correction is expected tomorrow.