More than 1% correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(21-07-2022)
Nifty-Intra Day Chart (20-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16531-16588
2- Whole day actual trading between 16491-16588
Conclusions from intra day chart analysis
As Dow jones closed 754 Points up yesterday and all the Asian markets were trading in Green zone as well as some Asian markets were more than 1.5% positive with Dow jones Futures more than 150 points up therefore sentiment was boosted today morning hence strong opening of Indian markets and whole day today trading with good gains and finally 1.1.% positive closing today.
Although such strong today market but intraday patterns are showing good selling at higher levels therefore more than 1% correction is expected in the coming sessions.