Watch 16143 for next trend confirmations amid huge Global markets volatility
Nifty-Intra Day Chart Analysis &
Market Outlook(11-05-2022)
Nifty-Intra Day Chart (10-May-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Consolidation between 16287-16329
3- Selling between 16335-16404
4- Sharp fall in last hour
5- Whole day actual trading between 16198-16404
Conclusions from intra day chart analysis
Although consolidation in first 3 hours but higher levels good selling therefore sharp fall in last hour because higher levels selling was seen yesterday also.
As higher levels good selling but consolidation was also seen above 16143 in last 2 sessions therefore firstly sustaining it beyond should be watched tomorrow for next trend confirmations amid huge Global markets volatility because Dow Jones Futures traded most time 200 posiitve during Indian trading hours and now trading more than 250 points down.