Correction continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(13-07-2022)
Nifty-Intra Day Chart (12-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16101-16158
2- Sharp fall in last hour
3- Whole day actual trading between 16032-16158
Conclusions from intra day chart analysis
Following lines were told on 09-07-2022 in "Short Term Correction is on cards":-
1- strong indication of Short Term Correction beginning therefore it may begin any day in next week.
2- strong signal of correction beginning of that rally which started from 15183.4 on 17-06-2022.
As was told 100% same happened and Short Term Correction is being seen in this week.
As good selling in first 5 hours therefore sharp fall was seen in last hour and correction continuation is expected in the coming sessions also as well as until Nifty will not sustain above today highest after complete consolidation till then decisive up moves will not be seen.