Last resistances will confirm
next decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(28-05-2021)
Nifty-Intra Day Chart (27-May-2021):-
1- Down moves in Bullish Falling Channel
2- Consolidation between 15280-15296
3- Selling between 15334-15360
4- Consolidation between 15273-15307
5- Sharp up in last half hour
6- Whole day actual trading between 15273-15384
Conclusions from intra day chart analysis
As good selling at higher levels yesterday therefore firstly consolidation was seen through Down moves in Bullish Falling Channel and between 15280-15296 then up moves were seen.
Although higher levels selling developed and after that down moves with new intraday lowest formation also but again lower levels consolidation developed between 15273-15307 therefore sharp up in last half hour. Last resistances of Nifty are between 15335-15421 and fresh selling within this range,consolidation below it and closing was seen within it today.
As both intraday buying selling therefore whole day today trading will be understood with Mixed Patterns formation hence Nifty will firstly trade and prepare for next decisive moves between 15273-15421 and finally sustaining below 15273 will confirm short term correction and sustaining above 15421 will mean strong rally with new life time highest formations.