Watch levels for confirmation amid deeper correction beginning possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(24-02-2022)
Nifty-Intra Day Chart (23-Feb-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 17156-17220
2- Sharp fall in last hour
3- Whole day actual trading between 17028-17220
Conclusions from intra day chart analysis
Although firstly up moves after positive opening but good selling between 17156-17220 therefore sharp fall in last hour. Technical positions of last 6 sessions are as follows:-
1- Consolidation between 16844-16981 on 22-02-2022.
2- Good selling above 17156 in 5 sessions of last 6 sessions
Expected that Nifty will firstly trade and prepare for next decisive moves betwen 16844-17156 tomorrow and closing is also expected within this range because good strong consolidation was seen above it on 22-02-2022
As good selling above 17156 therefore Nitfy will not sustain above it and once sustaining below 16844 after complete fresh selling will mean strong signal of deeper correction beginning.
for confirmation
Just watch above mentioned levels for confirmation in the coming 2/3 sessions amid deeper correction beginning possibility