17039-17160 Break out/down
will confirm next
Short Term moves
Nifty-Intra Day Chart Analysis &
Market Outlook(30-11-2021)
Nifty-Intra Day Chart (29-Nov-2021):-
Technical Patterns formation in today intraday charts
1- 273 Points sharp fall in first 9 minutes after positive opening
2- 365 Points strong recovery in next 2 hours
3- Last 4 hours sideways trading between 17039-17160
4- Whole day actual trading between 16783-17160
Conclusions from intra day chart analysis
Although firstly 365 points huge volatility till 11:30 AM but after that last 4 hours sideways trading between 17039-17160 for next Short Term moves preparation which will be done tomorrow. Let Nifty prepare and sustain beyond 17039-17160 then will be decided according to breaking out/down side direction.
As finally sustaining beyond 17039-17160 will confirm next Short Term moves towards following next supports and resistances therefore should be watched for confirmations:-
Supports:-
1-16722-16764
2-16590-16685
Resistances;-
1-17233-17355
2-17509-17600