Sustaining above 18240 will mean strong rally towards life time highest at 18887.6
Nifty-Intra Day Chart Analysis &
Market Outlook(24-01-2023)
Nifty-Intra Day Chart (23-Jan-2023):-
Technical Patterns formation in today intraday charts
1- 99 Points sharp up moves from lower levels in 30 minutes
2- Selling between 18139-18162
3- 80 Points down moves in next 3 hours
4- Consolidation between 18079-18110
5- Consolidation between 18108-18136
6- Whole day actual trading between 18063-18162
Conclusions from intra day chart analysis
Although firstly slipping after strong opening but after that 99 points sharp up moves were seen in the next 30 minutes. As higher levels selling developed therefore after that 80 Points down moves were seen in the next 3 hours.
As firstly consolidation between 18079-18110 after 3 hours down moves and after that follow up consolidation between 18108-18136 therefore last 3 hours lower levels consolidation will be understood and firstly up moves are expected towards today highest tomorrow.
Next resistances above today highest are as follows:-
1- 18159-18183
2- 18216-18240
As resistances are lying up to 18240 and once follow up consolidation and after that sustaining above it will mean strong rally towards life time highest at 18887.6.