Finally sharp down moves
will be seen
Nifty-Intra Day Chart Analysis &
Market Outlook(22-07-2022)
Nifty-Intra Day Chart (21-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channel
2- Selling Patterns formation between 28891-28972
3- Up moves in last hours
4- Whole day actual trading between 16484-16626
Conclusions from intra day chart analysis
Although firstly slippping after flat opening and traded 46 points down also but not sustaining at lower levels and up moves started which remained continued till last minutes.
As selling was also seen firstly through up moves in Bearish Rising Channel and after that selling Patterns formation between 28891-28972 therefore expected that finally sharp down moves will be seen in the coming 2/3 sessions and below last 2 sessions lowest(16491) despite today 0.51% Green closing with Up moves in last hours because:-
1- Very Short Term indicators have turned Over Bought
2 Intraday charts of last 2 sessions are showing selling patterns formation