Sharp fall & correction of Rally
will start in next 2 sessions
Nifty-Intra Day Chart (11-Jan-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Sharp up
3- Up moves in Bearish Rising Channels
4- Sharp fall
5- Selling patterns formations between 18020-18081 in last 5 hours
6- Whole day actual trading between 17965-18081
Conclusions from intra day chart analysis
Although firstly Down moves after flat opening but were in Bullish Falling Channel therefore after that sharp up moves were seen.
As selling patterns formations between 18020-18081 through Up moves in Bearish Rising Channels in last 5 hours therefore Nifty will not sustain above 18020 and sharp fall as well as correction of that rally which begun from 16410.20 on 20-12-2021 will start in next 2 sessions despite:-
1- at present All US Indices are trading in Green and Nasdaq is 145 Points up.
2- at present SGX Nifty is trading more than 100 Points up.
3- All the European markets closed with good gains today.