Down moves towards next
supports amid elections
results led volatility
Nifty-Intra Day Chart Analysis &
Market Outlook(08-12-2022)
Nifty-Intra Day Chart (07-Dec-2022):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channel
2- Sharp fall
3- Up moves in Bearish Rising Channel
4- Selling between 18586-18613
5- Sharp fall in last hour
6- Whole day actual trading between 18529-18668
Conclusions from intra day
chart analysis
Although firstly up moves after flat opening but up moves were in Bearish Rising Channel therefore sharp fall was seen after that. Again up moves in Bearish Rising Channel and after that selling between 18586-18613 in Mid-session therefore again sharp fall developed in last hour.
As whole day selling patterns formation today therefore down moves are expected towards following next supports but remain cautious because market may remain elections results led volatile therefore remain cautious also:-
1- 18527-18554
2- 18357-18405