On going rally continuation
Nifty-Intra Day Chart Analysis &
Market Outlook(11-08-2022)
Nifty-Intra Day Chart (10-Aug-2022):-
Technical Patterns formation in today intraday charts
1- More than 100 points fall after positive opening
2- More than 5 hours consolidation between 17482-17543
3- Whole day actual trading between 17443-17566
Conclusions from intra day
chart analysis
As selling was seen between 17511-17548 yesterday therefore following conclusive line was told yesterday in "Watch 17511-17548 for rally continuation or correction beginning":-
Firstly sustaining beyond 17511-17548 should be watched tomorrow for rally continuation or emergence of Short to Intermediate Term correction beginning possibility.
Although firstly more than 100 points fall after positive opening but after that more than 5 hours good consolidation between 17482-17543 today which was within and near about yesterday selling range(17511-17548) therefore on going rally continuation will be seen above today highest(17566) tomorrow.