Immediate Resistances Will confirm today started Pull Back rally continuation
Nifty-Intra Day Chart Analysis &
Market Outlook(06-04-2021)
Nifty-Intra Day Chart (05-Apr-2021):-
Technical Patterns formation in today intraday charts
1- More than 100 points fall in first 2 minutes after negative opening
2- Selling between 14748-14787(immediate Resistances)
3- More than 300 points crash in 20 minutes
4- Support between 4460-14535
5- Slow up moves in last 4 hours
6- Whole day actual trading between 14460-14849
Conclusions from intra day chart analysis
As panic developed due Corona cases surpassing 1 Lac in India therefore huge more than 400 points crash in first 2 hours.
Although support between 4460-14535 amid more than 200 points recovery from lower lvels also in last 4 hours but these up moves were slow therefore until Nifty will not sustain above immediate resistances(14787) till then fresh up moves will not be seen.
Firstly sustaining above 14787 should be watched tomorrow for today started Pull Back rally continuation confirmations towards those resistance which were updated in weekly Outlook on 03-04-2021.