Watch next supports amid
down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(16-04-2024)
Nifty-Intra Day Chart (15-Apr-2024):-
Technical Patterns formation in today intraday charts
1- Volatility in first hour after weaker opening between 22266-22369
2- Selling between 22333-22427
3- Down moves with upward corrections
4- Whole day actual trading between 22260-22427
Conclusions from intra day chart analysis
Although firstly volatility in first hour after weaker opening but higher levels 4 hours selling was seen and last hour down moves were with upward corrections also. It means that follow up selling developed in last hour also therefore down moves are expected below today lowest(22260) and towards next supports. Sustaining beyond following next supports should be firstly watched for next decisive moves beginning confirmations:-
1- 22207-22230
2- 22067-22114