Finally 21795-22183 will confirm
next bigger moves
Nifty-Intra Day Chart Analysis &
Market Outlook(10-05-2024)
Nifty-Intra Day Chart (09-May-2024):-
1- Down moves with upward correction
2- Selling between 22122-22183
3- Selling between 22021-22078
4- Down moves in Bullish Falling Channel
5- Whole day actual trading between 21933-22307
Conclusions from intra day chart analysis
Although firstly up moves after weaker opening but fresh selling started which remained continued more than 5 hours through Down moves with upward correction and 2 times within sideways trading. As some intraday consolidation also in last hour through Down moves in Bullish Falling Channel which was within supports range also therefore some up moves are expected towards above mentioned selling ranges. Until complete fresh will not develop till then more down moves will not be seen because following supports are also lying below today closing. Expected that Nifty will trade within above mentioned selling ranges and following supports in the coming sessions and will prepare for next bigger moves as well as finally sustaining beyond 21795-22183 will confirm these next bigger moves:-
1- 21886-22027
2- 21795-21860