Levels will confirm next
Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(24-06-2022)
Nifty-Intra Day Chart (23-Jun-2022):-
Technical Patterns formation in today intraday charts
1- Sharp up after positive opening
2- Selling between 15558-15628
3- Down moves in Bullish Falling Channel
4- Sharp up moves
5- Sideways trading in last hour between 15549-15590
6- Whole day actual trading between 15368-15628
Conclusions from intra day chart analysis
Following line was told yesterday in "Up moves expectations":-
up moves are expected towards the lowest of yesterday Sideways trading range(15620)
As was told 100% same happened and up moves were seen as well as today highest was at 15628.45.
Although firstly sharp up after positive opening but higher levels selling therefore not sustaining within yesterday profit booking range above 15620 and down moves were seen. As Down moves were in Bullish Falling Channel also therefore sharp up moves developed after that. Technical positions beyond today trading range are as follows:-
1- Selling was seen above today highest and below 15707 on 21-06-2022
2- Conoslidation was seen below today lowest and above 15192 on 20-06-2022
As both lower levels buying and higher levels selling was seen between 15192-15707 in 4 previous sessions of this week therefore expected that Nifty will trade within this range in the coming sessions and finally sustaining beyond this range will form next Short Term Trend hence should be watched in the coming sessions for its confirmations.