Watch 2 levels for Short term correction beginning confirmation
Nifty-Intra Day Chart Analysis &
Market Outlook(10-12-2020)
Nifty-Intra Day Chart (09-Dec-2020):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Slow up moves
3- Selling between 13525-13548
4- Whole day actual trading between 13450-13548
Conclusions from intra day chart analysis
As firstly more than 3 hours consolidation through Down moves in Bullish Falling Channels therefore after that up moves were seen which were slow and some selling was also seen at higher levels hence firstly Nifty has to consolidate within and near about today trading range for decisive up moves above today highest(13548).
Some selling was also seen through slow up moves and higher levels selling also in last hour therefore sustaining below 13525 will mean first signal of Short term correction beginning and confirmation will be after sustaining below today lowest(13450) hence these 2 levels should be firstly watched tomorrow for it.