Watch levels for next trend beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(31-05-2022)
Nifty-Intra Day Chart (30-May-2022):-
Technical Patterns formation in today intraday charts
1- Strong up moves after huge gap up opening
2- More than 4 hours sideways trading between 16611-16695
3- Whole day actual trading between 16507-16695
Conclusions from intra day chart analysis
As all the Asian markets were trading with good gains today morning after strong rally in US markets last Friday therefore firstly huge gap up opening and after that strong up moves were seen in Indian markets.
Last more than 4 hours sideways trading between 16611-16695 and clear one sided intraday trading patterns were not seen therefore expected that Nifty will firstly trade and prepare for next decisive moves within this range and finally sustaining it beyond will form next trend hence firstly sustaining beyond this range should be watched for next trend beginning,