Watch levels amid RBI-MPC announcements
Nifty-Intra Day Charts Analysis &
Market Outlook(08-06-2022)
Nifty-Last 2 Sessions intraday
charts analysis
Nifty-Intra Day Chart (Jun 06 & Jun 07,2022):-
Technical Patterns formation in last 2 Sessions intraday charts
1- Consolidation between 16458-16540 on 06-06-2022
2- Up moves in Bearish Rising Channel on 06-06-2022
3- Selling between 16556-16598 on 06-06-2022
4- Down moves in Bullish Falling Channels
5- Consolidation between 16348-16414 on 06-06-2022
6- Last 2 Sessions actual trading between 16348-16611
Conclusions from 2 Sessions
intra day chart analysis
Following lines were told on 04-06-2022 in " Levels will confirm next Intermediate & Long Term Trend":-
correction will remain continued in the
beginning of next week
As was told 100% same happened and Nifty slipped 236 points from last Friday closing in first 2 sessions of this week.
Although firstly some consolidation but good selling was also seen at higer levels below 16611 yesterday therefore weaker opening of Indian markets today.
As lower levels whole day good consolidation between 16348-16414 today therefore firstly some up moves will be seen tomorrow and Nifty will trade within last 2 sessions trading range(16348-16611) as well as prepare for post RBI Monetary Policy Committee announcements decisive moves. Finally valid break out of last 2 sessions trading range(16348-16611) should be watched tomorrow for next decisive moves beginning which will be according to RBI-MPC announcements.