Today lowest will confirm correction beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(24-12-2021)
Nifty-Intra Day Chart (23-Dec-2021):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channels
2- Sharp falls
3- Whole day actual trading between 17016-17118
Conclusions from intra day chart analysis
Although strong gap up opening but converted into sideways trading between 17016-17118 with selling through 2 times up moves in Bearish Rising Channels and resultant sharp falls were also seen 3 times therefore selling patterns formations will be understood for today.
If follow up selling develops within or near about today trading range tomorrow then once sustaining below today lowest(17016) will mean Pull back rally completion and correction beginning towards the lowest(16411) of on going Wave-A of "ABC" correction.