Levels will confirm Short Term correction after selling process beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(09-12-2020)
Nifty-Intra Day Chart (08-Dec-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 13409-13435
2- Sharp down
3- Slow up moves with intraday corrections
4- Whole day actual trading between 13312-13435
Conclusions from
intra day chart analysis
As selling in first 2 hours therefore sharp down moves were seen after that but slow up moves with intraday corrections in last 3 hours therefore finally concluded that today trading will be understood with Mixed patterns formation.
As selling patterns were seen in last 2 sessions therefore emergence of selling process beginning and if more selling develops in the coming 1/2 sessions then decisive down moves will start. Let more selling develop in the coming sessions then Short Term correction will be seen and its confirmation will be sustaining below 13312/13272.