Watch 16565-16752 for next
decisive moves confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(26-07-2022)
Nifty-Intra Day Chart (25-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Sharp fall after weaker opening
2- Consolidation between 16565-16628
3- Volatility in last 2 hours between 16603-16685
4- Whole day actual trading between 16565-16706
Conclusions from intra day chart analysis
Although firstly sharp fall after weaker opening but lower levels consolidation between 16565-16628 therefore up moves were seen after 01:30 PM. As Nifty could not sustain at higher levels also therefore volatility will be understood in last 2 hours between 16603-16685.
Selling was seen between 16704-16752 last Friday and Nifty slipped from 16706 today as well as consolidation developed between 16565-16628 therefore both supports and resistances will be understood between 16565-16752 in last 2 sessions.
Expected that Nifty will trade and prepare for next decisive moves between 16565-16752 in the coming sessions and finally sustaining beyond this range will confirm it hence should be watched.