Finally sustaining beyond 22152-22247 will confirm next intraday decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(16-05-2024)
Nifty-Intra Day Chart (15-May-2024):-
Technical Patterns formation in today intraday charts
1- Sharp fall in first hour
2- More than 5 hours sideways trading between 22152-22247
3- Whole day actual trading between 22152-22297
Conclusions from intra day
chart analysis
Although firstly up moves after flat opening but sharp fall was seen in first hour. As more than 5 hours sideways trading between 22152-22247 and one sided intraday patterns were not seen within this trading range therefore NIifty will firstly trade and prepare for next decisive moves within and near about this trading range. Finally sustaining beyond 22152-22247 should be watched in the coming session for next intraday decisive moves beginning confirmations.