Watch levels amid Short term
correction beginning signals
Nifty-Intra Day Chart Analysis &
Market Outlook(12-04-2023)
Nifty-Intra Day Chart (11-Apr-2023):-
Technical Patterns formation in today intraday charts
1- Up moves after strong opening
2- Selling between 17719-17748
3- Down moves with upward corrections
4- Support between 17656-17682
5- Up moves
6- Up moves in Bearish Rising Channel
7- Whole day actual trading between 17656-17748
Conclusions from intra day chart analysis
Although firstly up moves after strong opening but higher levels selling was seen between 17719-17748 therefore down moves were seen in Mid-session. As lower levels intraday supports developed between 17656-17682 therefore up moves started which remained continued till last minutes. Selling was again seen in last hours through Up moves in Bearish Rising Channel therefore whole day today trading will be understood with lower levels supports and higher levels selling.
As mixed intraday Patterns formations between 17656-17748 today therefore firstly Nifty will have to trade and prepare for next decisive moves within and near about today trading range and finally sustaining it beyond will confirm it hence should be watched for confirmations amid Short term correction beginning expectations because Short term indicators have turned Over bought and showing its beginning signals also.