Rally continuation with intraday
volatility possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(29-07-2022)
Nifty-Intra Day Chart (28-Jul-2022):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Whole day actual trading between 16747-16947
Conclusions from intra day chart analysis
As Dow Jones closed more than 400 points up after FOMC announcements yesterday therefore firstly gap up strong opening of Indian markets and after that whole day up moves were seen with downward corrections.
Intraday selling patterns were not seen and whole day consodation developed through up moves with downward corrections therefore rally will remain continued but Very Short Term indicators have turned Over bought hence intraday volatility may also be seen tomorrow.