Sustaining above 24333 will confirm fresh rally after Short Term correction completion
Nifty-Intra Day Chart Analysis &
Market Outlook(11-07-2024)
Nifty-Intra Day Chart (10-Jul-2024):-
Technical Patterns formation in today intraday charts
1- Selling in first half hour after positive opening between 24397-24461
2- 319 Points sharp fall in one hour
3- More than 4 hours up moves with downward corrections between 24142-24333
4- Whole day actual trading between 24142-24461
Conclusions from intra day chart analysis
Although positive opening but selling developed and some intraday selling was seen in previous sessions as well as Short Term indicators had turned Overbought and were showing negative divergence also therefore intraday Short Term Correction developed through 319 Points sharp fall in one hour.
As lower levels supports developed and after that more than 4 hours up moves were seen with downward corrections between 24142-24333 therefore firstly sustaining above this range should be watched in the coming sessions for fresh rally beginning confirmations after Short Term correction completion.