Finally sustaining beyond today trading
range will confirm that side
decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(22-12-2023)
Nifty-Intra Day Chart (21-Dec-2023):-
1- Down moves after 116 points weaker opening
2- Up moves with downward corrections
3- Up moves in Bearish Rising Channels
4- Whole day actual trading between 20977-21288
Conclusions from intra day chart analysis
Firstly down moves after 116 points weaker opening and Nifty traded 173 points down also but lower levels some consolidation was seen through up moves with downward corrections. Although up moves remained continued till last minutes and Nifty closed with 104.90 points gains also but last 4 hours up moves were in Bearish Rising Channels therefore higher levels selling patterns will be understood.
As today trading was with lower levels consolidation and higher levels selling therefore Nifty will firstly trade and prepare for next decisive moves within and near about today trading range as well as finally sustaining beyond today trading range will confirm that side decisive moves beginning.