More Up moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(05-12-2023)
Nifty-Intra Day Chart (04-Dec-2023):-
Technical Patterns formation in today intraday charts
1- Consolidation between 20508-20587
2- Up moves with downward corrections
3- Whole day actual trading between 20508-20702
Conclusions from intra day chart analysis
As grand victory of BJP in Assembly pools on 3rd Dec 2023 therefore Indian Stock Markets celebrated it next day today through huge up opening and with Nifty 2.07% gains.
Firstly consolidation between 20508-20587 and after that Up moves with downward corrections which is also a consolidation pattern and intaday selling patterns were not seen therefore more up moves are expected above to highest(20702.65). Let intraday selling patterns develop then Short Term correction will be considered.