17213 will confirm strong rally
Nifty-Intra Day Chart Analysis &
Market Outlook(02-12-2021)
Nifty-Intra Day Chart (01-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Sharp up moves
3- Whole day actual trading between 17065-17213
Conclusions from intra day chart analysis
As Good consolidation through Down moves in Bullish Falling Channels till 02;15 PM therefore Sharp up moves were seen after that and today closing was near the higher levels of the day.
Expected that up moves above today closing will be seen tomorow also and once sustaining above today highest(17213) will mean strong indication of Pull back rally towards next resistances(17509-17600) because Nifty traded most time below 17213 in last 4 sessions and its break out confirmation will generate such up moves.