Levels will confirm next
decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(01-07-2021)
Nifty-Intra Day Chart (30-Jun-2021):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channel
2- Selling between 15810-15839
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 15709-15839
Conclusions from intra day chart analysis
As firstly up moves in Bearish Rising Channel and after that good selling between 15810-15839 therefore down moves were seen till last minutes. Although closing was near lower levels of the day but some consolidation will also be understood in last 2 hours because Down moves were in Bullish Falling Channel during this period.
Expected that Nifty will firstly trade between 15709-15810 and follow up moves within this range will decide next trend but until complete consolidation will not develop till then decisive up moves will be not seen above 15810 and fresh selling with sustaining below 15709 will mean sharp fall.