Levels will confirm Short Term correction or rally continuation
Nifty-Intra Day Chart Analysis &
Market Outlook(08-12-2020)
Nifty-Intra Day Chart (07-Dec-2020):-
Technical Patterns formation in today intraday charts
1- Sideways trading between 13272-13320
2- Up moves in Bearish Rising Channels
3- Whole day actual trading between 13242-13366
Conclusions from intra day chart analysis
Although today closing was at the top of the day but intraday consolidation patterns were not seen and firstly 3 hours trading was sideways as well as last 3 hours selling patterns formations were through up moves in Bearish Rising Channels therefore if fresh selling develops tomorrow then Short Term correction will be seen.
Firstly sustaining beyond today highest(13366) and if sustains below today highest then sustaining beyond 13272-13366 should be watched tomorrow Short Term correction or rally continuation confirmations.