Downward moves expectations
towards next supports
Nifty-Intra Day Chart Analysis &
Market Outlook(22-05-2026)
Nifty-Intra Day Chart (21-May-2026):-
Technical Patterns formation in today intraday charts
1- 102 Points fall in first 6 minutes after 171 points positive opening.
2- Selling between 23716-23809
3- Downward moves
4- Selling between 23645-23688
5- Whole day trading between 23597-23859
Conclusions from intra day chart analysis
Although firstly some upward moves after 171 points positive opening and Nifty traded 200 points up also but Nifty could not sustain at intraday higher levels and slipped 102 points in first 6 minutes. As firstly selling developed in first 3 hours therefore downward moves were seen in Mid-Session and after that follow up selling was seen in last 2 hours also therefore Nifty closed in negative zone after loosing all intraday gains.
As whole day only intraday selling patterns formations therefore downward moves are expected towards next supports(23381-23507) and firstly sustaining it beyond should be watched for next intraday decisive moves beginning confirmations.