Sustaining below 24774 will mean correction continuation towards next supports
Nifty-Intra Day Chart Analysis & Market
Outlook(31-07-2024)
Nifty-Intra Day Chart (30-Jul-2024):-
Technical Patterns formation in today intraday charts
1- Minor volatility in first hour
2- Up moves
3- More than 3 hours selling between 24922-24971
4- Sharp fall in last hour
5- Whole day actual trading between 24799-24971
Conclusions from intra day chart analysis
Although firstly up moves were seen after first hour volatility but higher levels more than 3 hours selling was seen therefore sharp fall developed in last hour because selling was seen one day before below this range between 24834-24891 and Nifty closed also within this range at 24857.30. As selling patterns have been seen in last 2 sessions therefore down moves are expected towards last 2 sessions lowest(24774) and sustaining below it will mean Very Short Term correction continuation towards next supports between 24367-24426.