Sustaining beyond today trading range will confirm next decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(20-12-2022)
Nifty-Intra Day Chart (19-Dec-2022):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- Consolidation between 18322-18383(immediate supports)
3- Slow up moves in last hour
4- Whole day actual trading between 18245-18431
Conclusions from intra day chart analysis
As some Asian markets were trading in Green and Dow Jones Futures was also trading with more than 100 points gains therefore firstly up moves after positive opening and after that consolidation in Mid-session between 18322-18383 hence up moves were seen in last hour also. Although most European markets were trading with good gains and Dow Jones Futures was also more than 230 POints up but last hour up moves were slow therefore some profit booking also can not be ruled out during last hours positive sentiments.
Both lower levels good buying and higher levels some selling also today therefore Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(18245-18431) and finally sustaining it beyond will confirm it which should be firstly watched tomorrow/in the coming sessions.
Immediate supports and resistances are as follows;-
1- 18322-18383
2- 18509-18586