Finally 2 immediate resistances will confirm next Very Short Term moves amid firstly upward moves expectations
Nifty-Intra Day Chart Analysis & Market
Outlook(07-08-2024)
Nifty-Intra Day Chart (06-Aug-2024):-
Technical Patterns formation in today intraday charts
1- Selling between 24283-24379(Immediate Resistances)
2- Downward moves
3- Selling between 24173-24266(Immediate Resistances)
4- Down moves in Bullish Falling Channel in last 3 hours
5- Whole day actual trading between 23961-24382
Conclusions from intra day chart analysis
Although 134 points positive opening but selling developed therefore downward moves were seen after one hour. As follow up selling in Mid-Session therefore again down moves developed but were in Bullish Falling Channel in last 3 hours which means consolidation pattern formations during this time therefore firstly upward moves are expected towards above mentioned immediate resistances of Nifty. Finally sustaining beyond these 2 immediate resistances should be watched in the coming sessions for next Very Short Term moves beginning confirmations.