18072-18210 will confirm next Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(16-11-2021)
Nifty-Intra Day Chart (15-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 18171-18210
2- Selling between 18135-18160
3- Down moves in Bullish Falling Channel
4- Sideways trading between 18072-18104
5- Whole day actual trading between 18072-18210
Conclusions from intra day chart analysis
Following lines were told on 13-11-2021 in "Last 18 sessions lowest will confirm the life and length of on going correction":-
up moves will remain continued in the beginning of next week but intraday correction will also be seen
As was told 100% same happened and :-
1- Firstly Nifty traded more than 100 points up
2- Nifty closed flat after intraday correction and loosing all intraday gains.
Although good gains in first half hour but higher levels selling developed and after that follow up selling remain continued also therefore Nifty slipped into negative zone. As last 4 hours sideways trading between 18072-18104 with some consolidation also through Down moves in Bullish Falling Channel therefore up moves towards today highest may be seen tomorrow.
As both lower levels buying and higher levels selling was also seen between 18072-18210 today firstly Nifty will have to trade and prepare for next Short term Trend within this range which will be firstly done tomorrow. Let Nifty trade and prepare then will be understood according to intraday trading patterns formations and will be updated accordingly. Finally sustaining beyond 18072-18210 will confirm next Short Term Trend which should also be watched for its confirmations.