Correction only after complete fresh selling patterns formations
Nifty-Intra Day Chart Analysis &
Market Outlook(04-01-2022)
Nifty-Intra Day Chart (03-Jan-2022):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Last hour sideways trading between 17608-17646
3- Whole day actual trading between 17384-17646
Conclusions from intra day chart analysis
As Dow Jones Futures was trading more than 125 points up therefore following lines were told at 09:57 AM on 03-01-2022 in " Firstly watch Next resistances between 17552-17639":-
Next resistances are between 17552-17639 and it will decide the life and length of on going Pull Rack Rally therefore sustaining it beyond should be firstly watched for its confirmations.
As Nifty traded last hour sideways within and near about next resistances(17552-17639) between 17608-17646 as well as closed within it at 17625.70 therefore firstly sustaining it beyond should be watched in the coming sessions for the life and length of on going Pull Rack Rally. As Whole day up moves were with downward corrections and selling patterns were not seen on 03-01-2022 therefore complete fresh selling patterns formations are firstly required minimum on intraday charts for the correction beginning.