17245 will confirm next trend
Nifty-Intra Day Chart Analysis &
Market Outlook(31-12-2021)
Nifty-Intra Day Chart (30-Dec-2021):-
Technical Patterns formation in today intraday charts
1- 67 Points fall in first minute
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Up moves with downward corrections
5- Down moves with upward corrections
6- Whole day actual trading between 17147-17264
Conclusions from intra day chart analysis
As multiple strong resistances were above 17245 therefore following topic was posted told on 27-12-2021:-
We cautioned and Nifty closed below 17245 in all the previous 3 sessions after our above posted topic therefore firstly sustaining it beyond should be watched in the coming sessions for the life of last 9 sessions rally which started form 16410.2 on 20-12-2021.
"Down moves towards next supports" topic was posted on 29-12-2021 for yesterday trading and 67 Points fall was seen in first minute yesterday. As whole day trading was with both above mentioned consolidation and selling patterns formations therefore yesterday trading will be understood with Mixed Patterns formation between 17147-17264 and resultant closing was with only 9 points down.
As Mixed Patterns formation between 17147-17264 yesterday therefore firstly sustaining it beyond should be firstly watched today for next decisive moves beginning confirmations and remain cautious also because Nifty hovered around 17245 in last 3 sessions and it will confirm next trend.