Fresh consolidation is firstly required
for next up moves
Nifty-Intra Day Chart Analysis &
Market Outlook(05-04-2023)
Nifty-Intra Day Chart (03-Apr-2023):-
Technical Patterns formation in today intraday charts
1- More than 100 points fall in first half hour
2- More than 5 hours consolidation between 17313-17367
3- Slow up moves in last hours
4- Whole day actual trading between 17313-17428
Conclusions from intra day chart analysis
Although gap up opening but firstly more than 100 points fall in first half hour was seen. As after this more than 5 hours consolidation between 17313-17367 therefore closing was near the higher levels of the day but slow up moves in last hours hence fresh consolidation is also firstly required for next up moves after sustaining above day's highest(17428).