Upward moves expectations &
finally 22952-23069 will confirm
next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(29-01-2025)
Nifty-Intra Day Chart (28-Jan-2025):-
Technical Patterns formation in today intraday charts
1- Consolidation between 22858-22923
2- Up moves in Bearish Rising Channel between 22952-23069
3- Sharp up
4- Sharp down
5- Consolidation between 22918-22982
6- Whole day actual trading between 22858-23137
Conclusions from intra day chart analysis
Although firstly downward moves after moves positive opening but lower levels consolidation developed therefore upward moves started. As these more than 3 hours upward moves were in Bearish Rising Channel therefore 190 points sharp fall was seen in only 7 minutes from intraday higher levels.
As minor consolidation between 22918-22982 was also seen in last half hour therefore it will be understood that lower levels clear consolidation patterns developed today hence upward moves will be seen towards today intraday higher levels. Almost 3 hours up moves were in Bearish Rising Channel between 22952-23069 therefore Nifty will firstly trade and prepare for next decisive moves within and near about this range as well as finally sustaining it beyond will confirm next decisive moves beginning in the coming sessions.