Firstly some up moves expectations and finally watch today lowest also
Nifty-Intra Day Chart Analysis &
Market Outlook(26-05-2022)
Nifty-Intra Day Chart (25-May-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 16192-16223
2- Sharp fall
3- Selling between 16118-16170
4- Sharp fall
5- Down moves in Bullish Falling Channels
6- Double bottom supports at lower levels
7- Whole day actual trading between 16007-16223
Conclusions from intra day chart analysis
Although firstly some up moves after strong opening but higher levels selling developed therefore sharp fall was seen after that and again follow up selling and sharp fall in Mid-session also.
As lower levels some consolidation also in last hours through Down moves in Bullish Falling Channels therefore some up moves can not be ruled out towards 16118 because double bottom supports was also seen at lower levels. As higher levels today and previous sessions good selling also therefore finally sustaining beyond today lowest(16007) should be watched because follow up selling and sustaining below today lowest(16007) will confirm correction towards 15800.