Firstly watch levels for next Short Term Trend confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(26-04-2022)
Nifty-Intra Day Chart (25-Apr-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 16994-17047
1- Down moves in Bullish Falling Channels
3- Whole day actual trading between 16889-17054
Conclusions from intra day chart analysis
Following lines were told on 23-04-2022 in "Firstly watch next supports for the life of on going correction & finally 15672-18604 for next big moves beginning confirmations":-
1- firstly down moves will be seen in the beginning of next week.
2- correction continuation in the beginning of next week
As was told 100% same happened and Nifty closed 218 points down in the beginning of this week on Monday
Although 162 points weaker and gap down opening but lower levels consolidation was also seen in last 3 hours after selling in first 3 hours. As both lower levels intraday buying and higher levels intraday selling also between 16889-17047 therefore Nifty will firstly trade and prepare for next Short Term Trend within or near about this range in the coming sessions,
As finally sustaining beyond 16889-17047 will confirm next Short Term Trend therefore should be firstly watched for its confirmations.