FOMC announcements led next one sided decisive moves beginning confirmations through 2 trading ranges
Nifty-Intra Day Charts Analysis & Market Outlook(01-08-2024)
Nifty-Last 3 Sessions intraday charts analysis
Nifty-Intra Day Chart (Jul 29 to Jul 31,2024):-
Technical Patterns formation in last 3 Sessions intraday charts
1- More than 3 hours trading between 24774-24891 on 29-07-2024 and 30-07-2024.
2- More than 7 hours trading between 24922-24971 on 30-07-2024 and 31-07-2024.
3- Last 3 Sessions actual trading between 24774-24999
Conclusions from 3 Sessions
intra day chart analysis
Although huge volatility on 29-07-2024 but Nifty traded within this range in last 2 sessions and Nifty traded within above mentioned 2 ranges more than 3 hours and more than 7 hours. As Nifty has prepared for post FOMC announcements led new decisive moves therefore Indian and Asian markets will react on it tomorrow and:-
1- Firstly sustaining beyond these 2 trading ranges should be watched for Indian markets reaction on FOMC announcements.
and
2- Next one sided decisive moves beginning confirmations.