Sustaining above 24355 will
confirm strong rally beginning
Nifty-Intra Day Chart Analysis & Market
Outlook(12-07-2024)
Nifty-Intra Day Chart (11-07-2024):-
Technical Patterns formation in today intraday charts
1- 85 Points fall in first half hour after positive opening
2- More than 100 points sharp fall
3- More than 4 hours up moves with downward corrections between 24237-24355
4- Whole day actual trading between 24194-24402
Conclusions from intra day chart analysis
Although 85 points fall in first half hour after positive opening and again more than 100 points sharp fall but after that up moves begun with downward corrections which remained continued in the next more than 4 hours.
As more than 8 hours up moves with downward corrections have been seen in the last 2 sessions between 24142-24355 therefore firstly sustaining above 24355 should be watched in the coming sessions strong rally beginning confirmations after Short Term correction completion.