Levels will confirm rally continuation or correction beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(03-12-2020)
Nifty-Intra Day Chart (02-Dec-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 13070-13125
2- Sharp fall
3- Down moves in Bullish Falling Channel
4- Up moves with downward corrections
5- Whole day actual trading between 12984-13128
Conclusions from intra day chart analysis
As firstly more than 3 hours good selling therefore sharp fall after that but lower levels consolidation was seen through Down moves in Bullish Falling Channel. Although last hour up moves were with downward corrections and closing was at the top of the day but good selling was in first 3 hours therefore more consolidation is firstly required near about today lowest for immediate rally.
Expected that Nifty will firstly trade near about today highest and finally sustaining beyond 13070-13125 will confirm rally continuation or correction beginning which should be firstly watched tomorrow.