Firstly watch 14919 amid Bullish Global cues sentiments led up moves
Nifty-Intra Day Chart Analysis &
Market Outlook(02-03-2021)
Nifty-Intra Day Chart (01-Mar-2021):-
Technical Patterns formation in today intraday charts
1- Sharp up
2- Selling between 14777-14806
3- Sharp down
4- Consolidation between 14639-15708
5- Selling between 14753-14774
6- Up moves in Bearish Rising Channel
7- Whole day actual trading between 14639-14806
Conclusions from intra day chart analysis
As Dow Jones futures was trading more than 200 points up today morning therefore all the Asian markets were more than 1% up and resultant strong opening of Indian markets and closed 01.60% up because ta the time of Indian markets closing Dow Jones futures was trading more than 300 points up and all the European markers more than 1% up.
Although Global cues led 01.60% Green closing today but higher levels some selling was also seen after lower levels consolidation and today trading will be understood with Mixed Patterns formation.
As Dow Jones is now trading more than 600 points up and such storng closing will mean Bullish sentiment tomorrow morning and then firstly sustaining beyond next resistance range(14856-14919) should be watched tomorrow. Until Nifty will not sustain above 14919 till then decisive up moves will not be considered because some selling patterns were seen today and up moves are only due to Bullish Global cues sentiments led.