Finally sustaining beyond 21861-22045 will confirm next Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(14-03-2024)
Nifty-Intra Day Chart (13-Mar-2024):-
Technical Patterns formation in today intraday charts
1- Almost 5 hours down moves with upward corrections after 103 Points positive opening
2- Supports in last 2 hours between 21906-22045
3- Whole day actual trading between 21906-22446
Conclusions from intra day chart analysis
"Only we told in whole world"
1- When Nifty closed at life time top(22493.50) after new life time top formations(22525.70) on 07-03-2024 then we told next day on 08-03-2024 in Weekly Outlook in the topic "Emergence of Short to Intermediate Term correction possibility"
Short to Intermediate Term correction
beginning possibility has emerged
"As was told on 08-03-2024 and 100% same
happened in the"last 3 sessions" of this week that "Nifty slipped 587 points"
2- In Daily Market Outlook at 05;30AM on 12-03-2024 in the topic "Firstly watch sustaining beyond 22225-22287 amid down moves expectations'
A- Down moves are expected towards next supports(22225-222870)
B- Firstly sustaining beyond 22225-22287 should be watched in the coming sessions
C- Sustaining below 22225 will mean sharp down moves beginning
"As was told yesterday and 100% same happened in following manner today":-
A- "Nifty closed 338 points down at 21997.70 today".
B- "Once Nifty traded 430 points down also today".
C- "Sharp down moves were seen below 22225 today".
Although 103 Points strong opening today but good intraday selling was seen yesterday therefore not sustaining at higher levels and fresh selling begun which remain continued almost 5 hours and once Nifty traded 430 points down also. Supports between 21861-21962 were posted on 08-03-2024 in "Emergence of Short to Intermediate Term correction possibility" and fresh supports were seen within this range today also therefore now immediate supports are between 21861-22045 and expected that:-
1- Firstly Nifty will trade and prepare for next Short Term Trend within and near about this range 21861-22045.
2- Finally sustaining beyond 21861-22045 should be watched in the coming sessions for next Short Term Trend formations and that side decisive moves beginning confirmations.