Rally continuation & remain cautious amid short term correction beginning possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(08-07-2022)
Nifty-Intra Day Chart (07-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Slow up moves
3- Whole day actual trading between 16046-16150
Conclusions from intra day chart analysis
As intraday consolidation through Down moves in Bullish Falling Channels after gap up strong opening and as such intraday selling patterns therefore on going rally continuation is expected. Short term indicators have turned overbought therefore remain cautious also because firstly intraday selling and after that short term correction may begin any day.