Down moves continuation below
today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(06-07-2022)
Nifty-Intra Day Chart (05-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Sharp up after positive opening
2- Selling between 15964-16025
3- Crashing in last 2 hours
4- Whole day actual trading between 15786-16025
Conclusions from intra day chart analysis
Following lines were told yesterday in "Next resistances will confirm the life of on going rally":-
1- some up moves above today highest can not be ruled out
2- As Very Short indicators have turned Over bought and next resistances are lying just above today highest between 15869-15927 therefore firstly sustaining it beyond should be watched
As was told yesterday 100% same happened today and firstly up moves were seen but fresh selling developed between 15964-16025 which was above yesterday mentioned resistance range(15869-15927) therefore Nifty crashed in last 2 hours.
Only intraday selling was seen and consolidation was not seen today therefore today started down moves will remain continued below today lowest in the coming session.