Sustaining beyond crucial levels will confirm next Trend formations and resultant next bigger moves beginning confirmations
Nifty-Intra Day Charts Analysis &
Market Outlook(26-12-2024)
Nifty-Last 2 Sessions intraday
charts analysis
Nifty-Intra Day Chart (Dec 23 & Dec 24,2024):-
Technical Patterns formation in last 2 Sessions intraday charts
1- Technical Patterns formation on 23-12-2024.
A- Consolidation between 23701-23783.
B- Sharp upward moves.
C- Selling between 23832-23869.
D- Sharp downward moves.
E- Consolidation between 23648-23708.
F- Consolidation between 23727-23765.
2- Technical Patterns formation on 24-12-2024.
A- Consolidation between 23716-23775.
B- Sharp upward moves.
C- Selling between 23810-23867.
D- Downward moves.
E- Consolidation between 23715-23750.
3- Last 2 Sessions actual trading between 23648-23869.
Conclusions from 2 Sessions
intra day chart analysis
Following line was told on 21-12-2024 in the "Nifty-Intra Day Chart Analysis(20-Dec-2024)" section of "Firstly sustaining beyond 200-Day SMA & finally 23263.20 will confirm length of on going correction":-
1- last more than 3 hours down moves were in Bullish Falling Channels which is a consolidation pattern also therefore
2- firstly upward moves are expected towards 23892 in the beginning of next week.
As was told on 21-12-2024 100% same happened in following manner in the first 2 sessions of this week:-
1- Upward moves were seen on towards 23892 and intraday highest was at 23,869.50 on 23-12-2024.
2- Upward moves were seen on towards 23892 and intraday highest was at 23867.65 on 24-12-2024.
As lower levels good intraday consolidation was seen above 23538 and higher levels evenly good intraday selling was also seen above 23892 on 20-12-2024 therefore firstly upward moves were expected towards 23892 in this week. Above mentioned intraday chart analysis of last 2 sessions is clearly showing that in the same manner lower levels intraday consolidation and higher levels intraday session patterns were seen in last 2 sessions also.
Intraday charts analysis of last 3 sessions is clearly showing that both lower levels consolidation and higher levels intraday selling has been seen in last 3 sessions between 23538-24065 which means that:-
1- Nifty is preparing for next bigger moves between 23538-24065 for the last 3 sessions after previous week 1100 points sharp fall.
2- Finally sustaining beyond 23538-24065 will confirm next bigger decisive moves beginning.
As Nifty is hovering around and closed below Long Term Trend decider 200-Day SMA(today at 23847) also in the last 3 sessions and finally sustaining beyond 23538-24065 will confirm next Long Term Trend formations also according to its sustaining beyond direction therefore firstly sustaining beyond following crucial levels should be watched in the coming sessions/week/weeks for next Trend formations and resultant that side next bigger moves beginning confirmations:-
1- Last 3 sessions trading range(23538-24065) and
2- Long Term Trend decider 200-Day SMA(today at 23847)