Short Term correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(12-06-2024)
Nifty-Intra Day Chart (11-Jun-2024):-
Technical Patterns formation in today intraday charts
1- Up moves after flat opening
2- More than 4 hours selling between 23314-23389
3- Sharp fall in last half hour
4- Whole day actual trading between 23207-23389
Conclusions from intra day chart analysis
Although firstly up moves after flat opening but higher levels more than 4 hours selling was seen therefore Nifty fallen sharply in last half hour and Nifty closed flat after loosing all more than 100 points intraday gains.
Nifty traded between 23228-23411 yesterday with higher levels selling within this range and Nifty traded almost within this range between 23207-23389 with follow up higher levels selling today also therefore good intraday selling will be understood in last 2 sessions and resultant Short Term correction is expected in the coming sessions.