Finally watch 21942-22080) for next
intraday decisive moves beginning
confirmations amid firstly
down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(22-03-2024)
Nifty-Intra Day Chart (21-Mar-2024):-
Technical Patterns formation in today intraday charts
1- Consolidation between 21991-22019
2- Sharp up
3- Selling between 22051-22080
4- Down moves with upward corrections
5- Mixed Patterns formation in last 3 hours between 21985-22036
6- Whole day actual trading between 21942-22080
Conclusions from intra day chart analysis
As firstly 45 minutes consolidation after gap up strong opening therefore sharp up moves seen after that and Nifty traded 241 points up also.
Following lines were told yesterday Outlook named "Fresh up moves towards next resistances":-
fresh up moves will be seen in the coming session towards next resistances(22063-22204).
As was told 100% same happened and up moves seen towards mentioned resistances as well as down moves started after forming intraday top within already mentioned resistance at 22080.95.
As fresh selling developed within and just below already mentioned resistance between 22051-22080 therefore down moves started which were with upward corrections hence follow up selling will be also be understood. Although some up moves were seen from intraday lower leveles but Mixed Patterns formation were seen in last 3 hours between 21985-22036 which is little bigger time period therefore finally sustaining beyond day's trading range(21942-22080) should be watched in the coming sessions for next intraday decisive moves beginning confirmations amid firstly down moves expectations because sufficient selling patterns have been seen.