Sustaining beyond 16867-17202 will
generate next big moves
Nifty-Intra Day Chart Analysis &
Market Outlook(28-01-2022)
Nifty-Intra Day Chart (27-Jan-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves with downward corrections
3- Volatility in last 2 hours between 17052-17182
4- Whole day actual trading between 16867-17182
Conclusions from intra day chart analysis
As all the Global markets were in crashing mode therefore Nifty opened 215 points down and after that traded 411 points weaker also but lower levels good consolidation was seen seen through down moves in Bullish Falling Channel and until complete selling will not develop till then Nifty will not sustain below it,
Although intraday up moves with downward corrections but higher levels 130 points volatility was also seen between 17052-17182. Nifty traded 6 hours trading between 16998-17202 in 2 previous sessions and closed within it at 7110.15 also.
As huge Global markets pressure therefore Pre-Budget rally could not develop and only 2 sessions are left before Budget as well as Indian markets will prepare for post-Budget big decisive moves between 16867-17202 in these 2 sessions.
As finally sustaining beyond 16867-17202 will generate next big moves before or after Budget therefore should be watched for its confirmations.