Watch next supports after Short
Term Correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(05-07-2024)
Nifty-Intra Day Chart (04-Jul-2024):-
Technical Patterns formation in today intraday charts
1- Up moves after gap up opening
3- Selling between 24375-24401
3- Down moves
4- Selling between 24322-24356
5- Down moves
6- Whole day actual trading between 24282-24401
Conclusions from intra day
chart analysis
Although firstly up moves after gap up opening but selling developed at higher levels therefore down moves developed after that. As follow up more than 3 hours follow up selling in Mid session also therefore again down moves were seen in last last hour also.
As whole day only intraday selling developed and consolidation patterns were not seen today therefore Short Term correction is expected below today lowest(24282) and towards following next supports therefore sustaining them beyond should be firstly watched in the coming sessions for next decisive moves beginning confirmations:-
1- 24245-24266
2- 24095-24148