Firstly up moves & finally levels
will decide next trend
Nifty-Intra Day Chart Analysis &
Market Outlook(21-04-2022)
Nifty-Intra Day Chart (20-Apr-2020):-
Technical Patterns formation in today intraday charts
1- 45 Points jump in first minute after positive opening
2- Whole day sideways trading between with consolidation between 17066-17186
3- Whole day actual trading between 16979-17186
Conclusions from intra day chart analysis
Following lines were told in previous Oulook"Firstly watch next supports":-
a sharp big jump or a Pull back rally will be seen towards 17172
As was told 100% same happened and Nifty closed at 17136.55 after gaining 177.90 Points as well as slipped below 17172 after forming intraday highest at 17186.90.
Although good selling between 17172-17275 on 19-04-2022 but some consolidation also between 17066-17186 on 20-04-2022 therefore expected that firstly Nifty will trade and prepsre for next decisive moves within and near about 17066-17275 in the coming sessions.
As some consolidation also between 17066-17186 on 20-04-2022 therefore firstly up moves will be seen towards 17186 but until complete consolidation will not develop till then Nifty will not sustain above 17275.
17066-17275 will be very Short Term trading range and next trend decider as well hence finally sustaining it beyond should be watched amid firstly up moves expectations towards 17186.