Correction of 2443 Points
Pull Back Rally will begin
Nifty-Intra Day Chart Analysis &
Market Outlook(12-04-2022)
Nifty-Intra Day Chart (11-Apr-2020):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channels
2- Selling between 17727-17779(immediate Resistances)
3- Sharp falls in last hour
4- Whole day actual trading between 17650-17779
Conclusions from intra day chart analysis
Following lines were told on 09-04-2022 in "Remain cautious from 2443 Points rally correction possibility amid firstly sideways market between 17601-18114 ":-
firstly Nifty will trade and prepare for next decisive moves within last Friday trading range(17601-17842) in the beginning of next week
As was told 100% same happened and:-
Nifty traded whole day within mentioned range(17601-17842) between 17650-17779 on 11-04-2022.
We clearly told and concluded in above mentioned Outlook that:-
"higher levels selling in previous week therefore remain cautious in next week because sustaining below 17601 will confirm 2443 Points Pull Back Rally correction."
As good intraday selling on 11-04-2022 therefore Nifty will trade below 17601 and correction of 2443 Points Pull Back Rally will begin as well as its continuation will also be seen in the coming sessions.