Up moves continuation
towards 16384
Nifty-Intra Day Chart Analysis &
Market Outlook(27-05-2022)
Nifty-Intra Day Chart (26-May-2022):-
Technical Patterns formation in today intraday charts
1- Down moves from 16131 after 105 gains
2- Consolidation between 15904-15971
3- Up moves with downward corrections
4- Whole day actual trading between 15904-16204
Conclusions from intra day chart analysis
Following lines were told on 25-05-2022 in "Firstly some up moves expectations and finally watch today lowest also":-
1- some up moves can not be ruled out towards 16118
2- finally sustaining beyond today lowest(16007) should be watched
As was told 100% same happened and:-
1- Firstly up moves were seen towards 16118 and down moves started from 16131 after 105 gains.
2- Nifty slipped below 16007 but could not sustain below it and strong rally started.
Although firstly strong opening and traded with 105 gains but could not sustain and down moves started because there was yesterday selling above it. As good consolidation at lower levels between 15904-15971 therefore could not sustain at lower levels and up moves begun with downward corrections hence remained continued till last minutes.
As lower levels good consolidation and after that up moves were with downward corrections therefore up moves will remained continued and sustaining above 16232 will confirm strong rally towards 16384.