Sideways trading expectations within today trading range amid firstly down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(27-06-2024)
Nifty-Intra Day Chart (26-Jun-2024):-
Technical Patterns formation in today intraday charts
1- Consolidation between 23671-23734
2- Up moves with downward corrections
3- Selling between 23825-23860
4- Up moves in Bearish Rising Channel
5- Selling between 23861-23889
6- Whole day actual trading between 23671-23889
Conclusions from intra day chart analysis
Although firstly down moves after flat opening but lower levels consolidation was seen in first 2 hours and after that Up moves were with downward corrections therefre consolidation patterns formations will be understood in first 3 hours. As last more than 3 hours trading was with intraday selling patterns formations through 2 times selling within sideways trading range and Up moves in Bearish Rising Channel also therefore whole day today trading will be understood with lower levels consolidation and higher levels selling patterns formations.
Although today closing was near the higher levels of the day but with selling patterns formations just below it therefore firstly down moves are expected towards today consolidation range(23671-23734) and finally sideways trading is expected within today trading range(23671-23889)