Firstly watch 21677-21834 amid
high possibility of Short Term
correction beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(02-01-2024)
Nifty-Intra Day Chart (01-Jan-2024):-
Technical Patterns formation in today intraday charts
1- More than 4 hours trading with mixed Patterns formation between 21681-21752
2- New year euphoria led up moves
3- 148 Points sharp fall in last hour
4- Whole day actual trading between 21681-21834
Conclusions from intra day chart analysis
Although more than 4 hours trading with mixed Patterns formation between 21681-21752 but new year euphoria therefore up moves were seen and Nifty traded more than 100 points up with new life time top formations also. As clear consolidation patterns were not developed and intraday selling patterns were also seen therefore Nifty could not sustain at higher levels and sharp fallen 148 Points in last hour.
Following conclusive lines were told on 30-12-2023 in "Firstly watch 21677-21801 amid high possibility of Short Term correction beginning" and are being repeated for the coming sessions with little change of levels which are 21677-21834:-
"Although high possibility of Short Term correction beginning in the coming week but firstly sustaining beyond 21677-21801 should be watched for on going rally continuation confirmations above 21801 or Short Term correction beginning confirmations below 21677."