Firstly watch levels for next decisive moves beginning confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(19-04-2022)
Nifty-Intra Day Chart (18-Apr-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 17186-17237
2- Sharp fall
3- Down moves in Bullish Falling Channel
4- Up moves with downward corrections
5- Whole day actual trading between 17068-17237
Conclusions from intra day chart analysis
Following lines were told at 01:54 PM on 15-04-2022 in "Remain cautious amid deeper correction beginning possibility":-
1- down moves are expected in the beginning of next week
2- once sustaining below 17004 will mean deeper correction beginning of on going Pull Back Rally
As was told 100% same happened and Nifty closed 302 points down in the beginning of this weeek on Monday.
As firstly selling between 17186-17237 after huge gap down opening therefore sharp fall after that but Down moves in Bullish Falling Channel in Mid sessions hence up moves were seen in last 3 hours.
Although lower levels consolidation through Down moves in Bullish Falling Channeland and last 3 hours up moves with downward corrections also but could noy move above 17237 because good selling was seen between 17186-17237.
As both higher levels good selling and lower levels equally good consolidation also between 17068-17237 therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about this range and firstly sustaining it beyond should be watched in the coming sessions for next decisive moves beginning confirmations.