Firstly watch next supports amid
down moves expectations towards it
Nifty-Intra Day Chart Analysis &
Market Outlook(30-05-2023)
Nifty-Intra Day Chart (29-May-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 18615-18641(immediate Resistances)
2- Down moves
3- Support between 18585-18593
4- Up moves in Bearish Rising Channel
5- Down moves
6- Support between 18582-18597
7- Whole day actual trading between 18582-18641
Conclusions from intra day chart analysis
Following lines were told on 27-05-2023 in "Finally fresh rally towards & above life time highest after volatility within supports & resistances":-
firstly up moves are expected towards following next resistances in the beginning of next week:-
1- 18559-18586
2- 18674-18696
3- 18832-18854
As was told 100% same happened today and whole day positive zone trading was seen and Nifty closed 99.30 points up today.
Although gap up strong opening today but higher levels continuous selling developed therefore down moves were seen again and again from intraday higher levels. As minor supports at lower levels also therefore sustaining below today lowest should also be firstly watched tomorrow amid down moves expectations towards next supports between 18419-18445. Sustaining beyond this supports range should be firstly watched in the coming sessions for next decisive moves beginning confirmations.