Sustaining below 14580 will be first strong signal of Short Term Correction
Nifty-Intra Day Chart Analysis &
Market Outlook(15-01-2021)
Nifty-Intra Day Chart (14-Jan-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Slow up moves
3- Down moves in Bullish Falling Channel
4- Selling between 14580-14617
5- Whole day actual trading between 14472-14617
Conclusions from intra day chart analysis
As firstly Down moves in Bullish Falling Channel therefore after that up moves were seen but those up moves were slow hence some selling also can not be ruled out.
Although again some consolidation in Mid-session but last hours selling patterns formations between 14580-14617 which were below yesterday selling levels therefore higher levels follow up selling will be understood.
As selling above 14580 in last 2 sessions therefore if fresh selling develops tomorrow then Short Term Correction will be seen and its first strong signal will be sustaining below 14580.