Sideways Market after down moves
Nifty-Intra Day Chart Analysis &
Market Outlook(11-02-2022)
Nifty-Intra Day Chart (10-Feb-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves
3- Selling between 17580-17639
4- Whole day actual trading between 17428-17639
Conclusions from intra day chart analysis
Following lines were told in "Rally continuation after fresh consolidation":-
1- rally continuation is expected in the coming sessions
2- fresh consolidation is also firstly required near about day's highest(17477)
Firstly Nifty slipped below yesterday highest(17477) after strong opening and after that rally continuation as well as Nifty closing 143 points up with 211 points recovery from lower levels.
Although lower levels good consolidation but higher levels good selling was also seen therefore down moves will be seen and Nifty will remain sideways between 17428-17639 tomorrow as well as prepare for next decisive moves.