Today lowest will confirm for Short Term correction beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(02-06-2021)
Nifty-Intra Day Chart (01-Jun-2021):-
Technical Patterns formation in today intraday charts
1- Volatility in first hour
2- 5 Hours sideways trading between 15529-15615
3- Whole day actual trading between 15529-15660
Conclusions from intra day chart analysis
Following lines were told at 12:23 AM on 01-06-2021 in " Rally continuation amid
Short Term correction possibility":-
1- rally continuation is expected
2- Short Term correction may be seen any day and its first signal will be sustaining below today highest after fresh selling near about it.
Although Nifty moved up 72 points after positive opening but not sustaining at higher levels and slipped fast hence first hour trading will be understood with volatility.
As 5 Hours sideways trading between 15529-15615 and Nifty hovered around last Friday highest(15606) as well as some selling was seen within this range therefore sustaining below today lowest(15529) will mean Short Term correction beginning which should be firstly watched tomorrow for its confirmations.