Watch next resistances amid firstly
upward moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(10-09-2024))
Nifty-Intra Day Chart (09-Sep-2024):-
Technical Patterns formation in today intraday charts
1- 99 Points down in first 15 minutes after weaker opening
2- Sharp up
3- Sharp up
4- Down moves in Bullish Falling Channels
5- Upward moves
6- Consolidation between 24870-24898
7- Up moves with downward corrections
8- Whole day actual trading between 24754-24957
Conclusions from intra day chart analysis
Although firstly 99 points down in first 15 minutes after weaker opening but after that 2 times sharp upward moves were seen. As down moves in Bullish Falling Channels were seen in Mid-session therefore again upward moves developed and consolidation developed near about 2 PM also hence upward moves with downward corrections were seen in last hour and Nifty closed near the top of the day.
As whole day only consolidation patterns formations therefore up moves are expected towards next resistances(25168-25193) tomorrow and firstly sustaining it beyond should be watched for next decisive moves beginning confirmations.