Sideways trading expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(06-01-2023)
Nifty-Intra Day Chart (05-Jan-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 18035-18120(immediate Resistances)
2- Down moves with upward corrections
3- 2 Hours consolidation between 17893-17946(immediate supports)
4- Sharp up moves in last half hour
5- Whole day actual trading between 17893-18120
Conclusions from intra day chart analysis
Although positive opening but selling developed therefore could not sustain at higher levels and down moves were seen which were with upward corrections hence follow up selling will be understood in Mid-session. 2 Hours lower levels consolidation also between 17893-17946 therefore sharp up moves in last half hour
As both higher levels good selling and lower levels equally good consolidation also therefore whole day today trading will be understood with Mixed Patterns formation between 17893-18120 and sideways trading is expected tomorrow within today trading range.