Today highest will confirm
rally continuation or Short Term
correction beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(02-08-2022)
Nifty-Intra Day Chart (01-Aug-2022):-
Technical Patterns formation in today intraday charts
1- Whole day rally continuation after gap up strong opening
2- Whole day actual trading between 17155-17356
Conclusions from intra day chart analysis
Although today closing was at he top of the day and at the highest level of on going rally as well but Short Term indicators have turned Over bought therefore Short Term correction is very much due which may be seen any day.
Remain cautiouus and firstly watch sustaining beyond today highest(17356) for rally continuation or Short Term correction beginning confirmations.