Bullish rally continuation
towards life time highest
Nifty-Intra Day Chart Analysis &
Market Outlook(16-11-2022)
Nifty-Intra Day Chart (15-Nov-2022):-
Technical Patterns formation in today intraday charts
1- 93 Points fall in first 36 minutes after positive opening
2- 5 Hours lower levels consolidation between 18282-18349
3- Sharp up in last half hour
4- Whole day actual trading between 18282-18427
Conclusions from intraday
chart analysis
Although closed in at Red at the lower levels of the day yesterday but we told following lines yesterday in "Up moves towards today highest":-
1- firstly up moves are expected towards today highest
2- Finally sustaining above today highest(18,399.45) should be watched for next decisive up moves towards life time highest(18,604.50)
As was told yesterday 100% same happened today and:-
1- Firstly Nifty moved up 15 points after positive opening
2- Finally Nifty moved above yesterday highest(18,399.45) and closed also above it at 18,403.40 after forming today highest at 18,427.95.
As lower levels 5 hours good intraday consolidation between 18282-18349 today and higher levels no immediate resistance therefore expected that firstly Bullish rally will remain continued towards life time highest(18,604.50).
Let complete intraday selling develop then Short Term correction will be considered after sustaining below 18282 because good intraday consolidation was seen above it today.