Firstly watch sustaining beyond 22225-22287 amid down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(13-03-2024)
Nifty-Intra Day Chart (12-Mar-2024):-
Technical Patterns formation in today intraday charts
1- Sharp up after flat opening
2- Selling between 22404-22452
3- Sharp down
4- More than 3 hours selling between 22346-22401
5- Whole day actual trading between 22256-22452
Conclusions from intra day chart analysis
Although firstly sharp up moves after flat opening but higher levels good intraday selling in first hour therefore sharp down moves were seen before 11:00 AM. As more than 3 hours follow up selling in Mid-session also therefore down moves are expected towards next supports(22225-22287). Firstly sustaining beyond 22225-22287 should be watched in the coming sessions because sustaining below 22225 will mean sharp down moves beginning after valid break down of last 7 sessions trading range lowest.