Finally more up moves expectations
amid Very Short Term intraday
correction possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(26-06-2024)
Nifty-Intra Day Chart (25-Jun-2024):-
Technical Patterns formation in today intraday charts
1- Consolidation between 23563-23612
2- Sharp up
3- Up moves with downward corrections
4- Sharp up
5- Whole day actual trading between 23563-23754
Conclusions from intra day chart analysis
Although firstly some down moves after positive opening but lower levels consolidation was seen in first 3 hours therefore sharp up moves were seen after that. As again follow up consolidation in Mid-session through Up moves with downward corrections therefore again shrp up moves were seen in last hour.
As whole day only intraday consolidation patterns formations and selling patterns were not seen therefore finally more up moves are expected but Very Short Term indicators have turned Over bought also therefore:-
1- Very Short Term intraday correction can not be ruled out
and
2- Until Nifty will not sustain below today lowest(23563) after complete selling till then decisive down moves will not be seen.