Firstly watch today lowest amid rising Geo-Political tension
Nifty-Intra Day Chart Analysis &
Market Outlook(10-05-2022)
Nifty-Intra Day Chart (09-May-2022):-
Technical Patterns formation in today intraday charts
1- Slipping after gap down opening
2- Consolidation between 16143-16202
3- Consolidation between 16217-16266
4- Up moves in Bearish Rising Channel
5- Down moves with upward corrections
6- Consolidation between 16217-16266
7- High volatility in last hour
8- Whole day actual trading between 16143-16403
Conclusions from intra day chart analysis
As all the Global markets remained in crashing mode whole day since morning today therefore firstly slipping after gap down opening but lower levels consolidation developed hence strong up moves were also seen.
Higher levels selling also developed firstly through Up moves in Bearish Rising Channel and after that Down moves with upward corrections in Mid-session and High volatility in last hour therefore whole day today trading will be understood Mixed Patterns formation between 16143-16403.
As Geo-Political tension is rising daily after 75 days old Russian-Ukraine war and emergence of war extension possibility to other European countries also therefore firstly sustaining beyond today lowest(16143) should be watched because consolidation was seen above it today and let Nifty to sustain above today highest only then decisive up moves will be considered otherwise down moves will be seen towards those next supports which have been updated is previous Outlook today morning.