Watch 12791-13145 for next
Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(27-11-2020)
Nifty-Intra Day Chart (26-Nov-2020):-
Technical Patterns formation in today intraday charts
1- Consolidation between 12791-12855
2- Consolidation between 12872-12925
3- Last hour Up moves in Bearish Rising Channel
4- Whole day actual trading between 12791-13018
Conclusions from intra day chart analysis
Although firstly slipping after positive opening but lower levels consolidation and after that follow up consolidation in Mid-session also therefore up moves remained continued till last minutes. As Last hour Up moves were in Bearish Rising Channel therefore higher levels some profit booking was also seen.
Selling was seen between 12965-13035 yesterday and some profit booking was within and near about this range today also therefore firstly fresh consolidation and after that sustaining above 13035 is required for next up moves.
As both lower levels buying and higher levels selling between 12791-13145 in last 2 sessions therefore Nifty will trade and prepare and prepare for next decisive moves within and near about this range in the coming 1/2 sessions and finally sustaining it beyond will generate next Short Term Trend which should be firstly watched.