Finally sustaining beyond 17406-17709 will confirm post Budget next trend
Nifty-Intra Day Chart Analysis & Market
Outlook(01-02-2023)
Nifty-Intra Day Chart (31-Jan-2023):-
Technical Patterns formation in today intraday charts
1- 130 Points fall in first 6 minutes
2- Down moves in Bullish Falling Channel
3- Up moves with downward corrections
4- Whole day actual trading between 17538-17735
Conclusions from intra day chart analysis
Although firstly 130 points fall in first 6 minutes but consolidation was seen firstly through Down moves in Bullish Falling Channel and after that Up moves with downward corrections therefore good intraday consolidation will be understood today and firstly up moves are expected towards today highest. As Union Budget will be tabled tomorrow and its announcements led volatility will also be seen therefore finally sustaining beyond 17406-17709 should be watched for post Budget next trend formation confirmations.