Watch 15964 amid firstly up moves
expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(20-05-2022)
Nifty-Intra Day Chart (19-May-2022):-
Technical Patterns formation in today intraday charts
1- Selling between 15923-15964
2- Down moves in Bullish Falling Channels
3- Whole day actual trading between 15776-15984
Conclusions from intra day chart analysis
Following lines were told on 14-05-2022 in "Most crucial level will confirm next one sided big moves":-
let nifty to sustain above 5th resistance top(16404)
then decisive up moves will be seen
Importance of 16404 was told on 14-05-2022 and Nifty crashed 624.6 points in last 2 sessions after forming Pull Back Rally top at 16399.80 yesterday(18-05-2022)
Although firstly selling between 15923-15964 after huge gap down opening but lower levels some consolidation was also seen in last hours through Down moves in Bullish Falling Channels therefore firstly up moves will be seen towards 15964 tomorrow because this consolidation pattern formation was within next most crucial supports range(15672-15846). Let Nifty to sustain above 15964 then decisive up moves will be seen therefore watch it also tomorrow.