Firstly watch sustaining beyond
21964-22115 for next decisive
moves beginning confirmations
Nifty-Intra Day Chart Analysis & Market
Outlook(16-01-2024)
Nifty-Intra Day Chart (15-Jan-2024):-
Technical Patterns formation in today intraday charts
1- 116 Points fall from intraday higher levels in first hour
2- Up moves in Bearish Rising Channel
3- More than 3 hours trading with mixed Patterns formation between 22027-22082
4- Up moves with downward corrections in last hour
5- Whole day actual trading between 21964-22115
Conclusions from intra day chart analysis
Although gap up strong opening above 22000 but 116 Points fall was seen in first hour from intraday higher levels. As after that up moves were in Bearish Rising Channel and more than 3 hours trading was with mixed Patterns formation between 22027-22082 as well as up moves were with downward corrections in last hour which is a consolidation pattern also therefore whole day today trading will be understood with intraday mixed Patterns formations.
As one sided intraday trading patterns were not seen today and both consolidation and selling patterns were seen therefore expected that Nifty will firstly traded and prepare for next decisive moves within and near about today trading range as well as finally sustaining beyond today trading range(21964-22115) will confirm it hence it should be firstly watched tomorrow.