Sustaining beyond 24150-24266 will
confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(19-12-2024)
Nifty-Intra Day Chart (18-Dec-2024):-
Technical Patterns formation in today intraday charts
1- 96 Points upward moves in first half hour.
2- Sharp down.
3- More than 5 hours sideways trading between 24150-24266.
4- Whole day actual trading between 24150-24394.
Conclusions from intra day chart analysis
As lower levels consolidation was seen yesterday therefore firstly 96 Points upward moves developed in first half hour but could not sustain at higher levels because higher levels selling was also seen yesterday. Although firstly volatility but after that quiet sideways trading was seen between 24150-24266 today and it means that Nifty is preparing for one sided decisive moves. As one sided intraday trading patterns were not seen within last 5 hours sideways trading between 24150-24266 therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about this range and finally sustaining beyond this range will confirm it hence it should be watched in the coming sessions for next decisive moves beginning confirmations.