Finally up moves continuation expectations amid only Very short Term/intraday correction possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(01-12-2022)
Nifty-Intra Day Chart (30-Nov-2022):-
Technical Patterns formation in today intraday charts
1- More than 5 hours consolidation between 18617-18702(immediate strong supports)
2- Sharp up moves in last half hour
3- Whole day actual trading between 18617-18816
Conclusions from intra day chart analysis
As firstly more than 5 hours consolidation between 18617-18702 and intraday selling patterns were not seen therefore sharp up moves developed in last half hour. Finally up moves continuation is expected amid only Very short Term/intraday correction possibility because Short Term indicators have turned Overbought after today sharp up moves.
Immediate strong supports between 18617-18702 and until complete intraday selling patterns will not develop till then decisive down moves will not be seen below 18617 therefore it should be finally watched if Global weakness led down moves develop in Indian markets also.