Up moves continuation towards
next resistances
Nifty-Intra Day Chart Analysis &
Market Outlook(26-05-2023)
Nifty-Intra Day Chart (25-May-2023):-
Technical Patterns formation in today intraday charts
1- Down moves after negative opening
2- Consolidation in Mid-session between 18203-18261
3- Up moves in last hours
4- Whole day actual trading between 18203-18338
Conclusions from intra day
chart analysis
When Nifty closed at 18348 with 33 points gains on 23-05-2023 then we told following lines on 23-05-2023 in "18232 will confirm today started correction continuation/completion":-
1- firstly down moves are expected towards 18232.
2- sustaining it beyond should be firstly watched tomorrow for today started correction continuation/completion.
As was told 100% same happened and:-
1- Nifty slipped 143 points in last 2 sessions.
2- Nifty got supports just below 18232 at 18202.40 today before recovering 133 points from this level to 18336.
Although firstly down moves were seen after negative opening today but lower levels good intraday consolidation in Mid-session therefore up moves developed in last hours and its continuation is expected in the coming sessions towards next resistances between 18390-18419.