Correction continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(29-09-2021)
Nifty-Intra Day Chart (28-Sep-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17822-17883
2- Down moves with upward corrections
3- Down moves in Bullish Falling Channel
4- Sharp recovery in last hour
5- Whole day actual trading between 17577-17912
Conclusions from intra day chart analysis
Although positive opening but fresh selling developed after last 2 sessions selling therefore decisive down moves was seen. As lower levels some consolidation also therefore sharp recovery from lower levels in last hour.
some buying was seen above 17802 in 2 previous sessions but good selling above it today therefore expected that down moves will be seen towards today lowest(17577) and once sustaining below it will mean today started correction continuation towards following next supports:-
1- 17360-17411
2- 17280-17305
3- 17213-17270