Down moves below today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(17-01-2024)
Nifty-Intra Day Chart (16-Jan-2024):-
Technical Patterns formation in today intraday charts
1- Selling between 22079-22124
2- Down moves
3- Selling between 22034-22055
4- Whole day actual trading between 21970-22124
Conclusions from intra day chart analysis
Although firstly some up moves after little weaker opening and new life time formation also but fresh selling developed therefore down moves were seen in Mid-session. As follow up selling was also seen in last hours therefore most time intraday selling will be understood for today and resultant down moves will be seen below today lowest(21969.80) in the coming sessions.