Sustaining beyond 17179-17251 will confirm the fate of today started rally
Nifty-Intra Day Chart Analysis &
Market Outlook(08-12-2021)
Nifty-Intra Day Chart (07-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- Selling between 17179-17251
3- Whole day actual trading between 16988-17251
Conclusions from intra day chart analysis
Following lines were told yesterday in "Jump expectations towards 17108":-
1- a Jump is expected towards 17108 tomorrow
2- until Nifty will not sustain above 17190 till then decisive up moves will not be seen.
As was told yesterday 100% same happened in following manners today:-
1- A Jump was seen towards and above 17108 today
2- As per our doubt Nifty could not sustain above 17190 and closed below it at 17176.70 after higher levels selling.
Although firstly 132 Points strong opening and after that up moves with downward corrections also but higher levels selling was also seen therefore slipping from higher levels in last hour.
As selling between 17179-17251 today therefore firstly Nifty will have to trade and prepare for next decisive moves beyond this range and that will be done within and near about 17179-17251 tomorrow hence firstly sustaining it beyond should be watched in the coming sessions for the fate of today started rally.