Watch next supports for the life & length of on going Short Term correction
Nifty-Intra Day Chart Analysis &
Market Outlook(02-06-2023)
Nifty-Intra Day Chart (01-Jun-2023):-
Technical Patterns formation in today intraday charts
1- More than 4 hours selling between 18544-18580(immediate Resistances)
2- Down moves with upward corrections
3- Sharp fall in last half hour
4- Whole day actual trading between 18465-18580
Conclusions from intra day chart analysis
Following lines were told on 29-05-2023 in "Firstly watch next supports amid down moves expectations towards it":-
down moves expectations towards next
supports between 18419-18445.
Following lines were told on 30-05-2023 in "Down moves towards next supports":-
down moves are expected below today lowest and towards yesterday mentioned next supports(18419-18445)
As was told 100% same happened and Down moves were seen in last 2 sessions with today lowest formations at 18464.55 today which was little above in last 2 sessions mentioned next supports.
As firstly more than 4 hours selling and after that down moves with upward corrections in Mid-session therefore sharp fall was seen in last half hour today. More than 5 hours clear selling patterns formations therefore correction continuation is expected towards next supports. Finally sustaining beyond following next supports should be watched in the coming sessions for the life and length of on going Short Term correction:-.
1- 18419-18445
2- 18373-18397