Finally sustaining beyond 24173-24368 will confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(04-11-2024)
Nifty-Intra Day Chart Analysis(Oct 31 & Nov 01,2024)
Technical Patterns formation in today intraday charts
1- Firstly 137 points moved down from intraday higher levels in first half hour on 31-10-2024.
2- Down moves in Bullish Falling Channel on 31-10-2024.
3- Consolidation in last 3 hours between 24173-24229 on 31-10-2024.
4- 65 Points upward moves in first 15 minutes after 97 Points positive opening on 01-11-2024
5- Selling between 24328-24368 on 01-11-2024
6- Sharp fall in last 22 minutes on 01-11-2024
7- Last 2 sessions actual trading between 24173-24372
Conclusions from intra day chart analysis
Although firstly little upward moves were seen after positive opening on 31-10-2024 but firstly Nifty moved down 137 points from intraday higher levels in first half hour. As after that Down moves were in Bullish Falling Channel and lower levels 3 hours consolidation also between 24328-24368 therefore good intraday consolidation was seen on 31-10-2024.
As good intraday consolidation in previous session therefore 65 Points upward moves were seen in first 15 minutes after 97 Points positive opening on Deepawali Muhurt one hour Session but higher levels good selling also developed between 24328-24368 therefore Sharp fall in last 22 minutes and Nifty closed near the lower levels of the day.
As higher levels selling between 24328-24368 and lower levels consolidation also between 24173-24229 in last 2 sessions therefore Nifty will firstly trade between and near about 24173-24368 tomorrow and will prepare for next decisive moves within this range. Let Nifty to trade and prepare then next decisive moves beginning will be understood from intraday trading patterns formations and finally sustaining beyond 24173-24368 will confirm next decisive moves beginning which should be watched for its confirmations.