Downward moves expectations
towards next supports
Nifty-Intra Day Chart Analysis & Market
Outlook(22-01-2025)
Nifty-Intra Day Chart (21-Jan-2025):-
Technical Patterns formation in today intraday charts
1- Selling between 23345-23426
2- Sharp down
3- Consolidation between 23147-23215
4- Sharp up
5- Selling between 23364-23411
6- Sharp down
7- Consolidation between 23109-23168
8- Selling between 23205-23293
9- Sharp down
10- Whole day actual trading between 22977-23426
Conclusions from intra day chart analysis
As good intraday consolidation yesterday therefore firstly Nifty traded 76 points up after gap up opening but fresh selling developed immediately after opening hence sharp down moves were begun which remained continued till last hour because whole day follow up selling was seen at intraday higher levels.
Although whole day high intraday volatility with lower levels consolidation and and higher levels selling with sharp upward and downward moves also but higher levels more selling developed therefore firstly downward moves are expected towards following next supports. Sustaining beyond following supports should also be watched one by one for next intraday decisive moves beginning confirmations:-
1- 22961-23096
2- 22760-22871