Crashing Global markets
&
let Nifty to get supports
Nifty-Intra Day Chart Analysis &
Market Outlook(16-12-2022)
Nifty-Intra Day Chart (15-Dec-2022):-
Technical Patterns formation in today intraday charts
1- Sharp fall after weaker opening
2- Down moves with upward corrections
3- Sharp fall in last hour
4- Whole day actual trading between 18388-18652
Conclusions from intra day chart analysis
As depressing Global cues therefore firstly sharp fall after weaker opening and after selling through down moves with upward corrections was seen in the next 4 hours hence again sharp fall developed in last hour because Dow Jones Futures has also slipped down more than 200 points.
All the Global markets are in crashing mode today therefore more down moves can not be ruled out tomorrow also. Let Nifty to consolidate and get support within or near about following next 4 supports ranges then Short Term up moves will be considered:-
1- 18357-18405
2- 18246-18272
3- 18198-18225
4- 18134-18163