Finally sustaining beyond 22304-22563 will confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(05-04-2024)
Nifty-Intra Day Chart (04-Apr-2024):-
Technical Patterns formation in today intraday charts
1- 315 Points fall in first 2 hours after gap up strong opening.
2- Consolidation between 22304-22436
3- 2 Times sharp up moves
4- Selling between 22497-22563
5- Whole day actual trading between 22304-22619
Conclusions from intra day chart analysis
As good intraday selling was seen in previous session therefore Nifty could not sustaiin at higher levels after gap up strong opening and firstly 315 Points fall developed in first 2 hours. Although lower levels consolidation was seen and after that 2 times sharp up moves also but higher levels selling developed in last 2 hours therefore whole day intraday trading will be understood with mixed Patterns formation between 22304-22563.
One sided intraday trading patterns were not seen therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about 22304-22563. As finally sustaining beyond 22304-22563 will confirm next decisive moves beginning therefore it should be watched in the coming session for one sided next decisive moves beginning confirmations.