Remain cautious 17453 will
confirm deeper correction
Nifty-Intra Day Chart Analysis &
Market Outlook(26-11-2021)
Nifty-Intra Day Chart (25-Nov-2021):-
Technical Patterns formation in today intraday charts
1- Consolidation between 17352-17425
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 17352-17564
Conclusions from intra day chart analysis
Although firstly consolidation but after that last 4 hours up moves in Bearish Rising Channels also therefore down moves are expected towards day's lowest(17352) and once sustaining below it will mean decisive down moves beginning.
As sustaining below 17453 will confirm deeper correction beginning therefore we are continuously telling for watching to sustain it beyond and Nifty is hovering it beyond for the last 3 sessions. As good selling between 17509-17600 on 24-11-2021 and higher levels selling patterns were seen on 25-11-2021 also therefore if Nifty sustains below 17453 it then will confirm deeper correction hence remain cautious.