Firstly watch next strong supports for the life and length of today started correction
Nifty-Intra Day Chart Analysis &
Market Outlook(21-12-2023)
Nifty-Intra Day Chart (20-Dec-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 21481-21593
2- Down moves with upward corrections
3- Whole day actual trading between 21088-21593
Conclusions from intra day chart analysis
Outlooks of last 2 sessions are live proofs of this fact that:-
1- we were Bearish because selling patterns were also developed in last 2 sessions intraday charts.
2- We also told for "Down moves expectations" in the coming sessions in the Outlook for 19-12-2023.
Although gap up strong opening today but fresh selling developed in first 4 hours and last 2 hours down moves were with upward corrections as well as inraday selling was seen in last sessions therefore Nifty closed 1.41% down today after loosing more than 300 points.
As Long Black Candle formations with today closing was below last 3 sessions lowest which means that strong signals of Short term correction beginning hence firstly sustaining beyond next strong supports(20770-20852) should be watched in the coming sessions for the life and length of today started correction.