Short Term correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(12-07-2023)
Nifty-Intra Day Chart (11-Jul-2023):-
Technical Patterns formation in today intraday charts
1- Up moves after positive opening
2- Selling Patterns formation between 19457-19515
3- Whole day actual trading between 19407-19515
Conclusions from intra day chart analysis
As all the Asian markets were trading in Green and some were more than 1% up after Dow Jones more than 200 points positive closing yesterday therefore sentiment turned Bullish and Up moves were seen in Indian markets also after positive opening. Although Nifty closed with 0.43% gains but higher levels selling Patterns formation were seen therefore Short Term correction is expected because intraday selling was seen yesterday also.