Short Term down moves expectations
below today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(07-12-2023)
Nifty-Intra Day Chart (06-Dec-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 20919-20940
2- Down moves in Bullish Falling Channel
3- Sharp up.
4- Up moves in Bearish Rising Channel
5- Selling between 20928-20962
6- Whole day actual trading between 20853-20962
Conclusions from intra day chart analysis
Although gap up strong opening but selling developed therefore down moves were seen in Mid-session. As these Down moves were in Bullish Falling Channel therefore firstly sharp up moves were seen but after that Up moves were in Bearish Rising Channel and selling developed between 20928-20962 in last hour.
As good intraday selling was seen at higher levels today therefore Short Term down moves below today lowest(20853) are expected tomorrow.