Sustaining beyond 21678-21801 will confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(29-12-2023)
Nifty-Intra Day Chart (28-Dec-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 21730-21759
2- Sharp down
3- Consolidation between 21678-21716
4- Sharp up
5- Consolidation between 21722-21743
6- Selling between 21746-21771
7- Up moves in Bearish Rising Channel
8- Whole day actual trading between 21678-21801
Conclusions from intra day chart analysis
Although gap up strong opening but firstly selling developed therefore sharp fall was seen after that. As lower levels consolidation therefore sharp up moves were also seen after 11:00 AM.
As again consolidation after sharp up moves therefore sentiment boosted and intraday rally remained continued till last minutes but higher levels fresh selling was also seen in Mid-session and selling through Up moves in Bearish Rising Channel in last hour hence today intraday trading will be understood with Mixed Patterns formation between 21678-21801.
It is clear that today trading was with lower levels consolidation and higher levels selling therefore firstly Nifty will have to 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 hence finally sustaining beyond today trading range(21678-21801) should be watched in the coming sessions for that side next decisive moves beginning confirmations.