Levels will confirm next Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(12-11-2021)
Nifty-Intra Day Chart (11-Nov-2021):-
Technical Patterns formation in today intraday charts
1- 90 Points down in first 15 minutes after weaker opening
2- Down moves in Bullish Falling Channels
3- Up moves in Bearish Rising Channels
4- More than 5 hours trading with mixed Patterns formation between 17799-17892
5- Whole day actual trading between 17799-17971
Conclusions from intra day chart analysis
As good intraday selling in last 2 sessions therefore firstly Nifty slipped 90 Points down in first 15 minutes after weaker opening and after that down moves remained continued but were in Bullish Falling Channels also therefore lower levels come supports was seen. Although continuous up moves also developed 3 times but were in Bearish Rising Channels also therefore intraday selling will also be considered.
More than 5 hours trading with mixed Patterns formation between 17799-17892 and expected that Nifty will firstly trade within and near about this range in the coming sessions as well as prepare for next Short Term Trend in the coming sessions. Let Nifty prepare for it within this range then will be decided according to coming sessions intraday patterns formations and finally sustaining beyond 17799-17892 will confirm next Short Term Trend.