Finally sustaining beyond 22569-22733 will confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(02-05-2024)
Nifty-Intra Day Chart (30-Apr-2024):-
1- More than 5 hours up moves
2- More than 4 hours selling between 22733-22783
3- 214 Points sharp fall in last hour
4- Whole day actual trading between 22569-22783
Conclusions from intra day chart analysis
Although more than 5 hours up moves after positive opening and Nifty traded 139 points up also with new life time top formations but higher levels more than 4 hours selling developed between 22733-22783 therefore 214 Points sharp fall was seen in last hour. As good intraday selling of last Tuesday was within and near about previous resistance range(22735-22768) therefore this resistance range turned stronger and 214 Points sharp fall was seen in last hour.
Expected that Nifty will firstly trade between 22569-22733 in the coming sessions and finally sustaining beyond this range will confirm next decisive moves beginning which should be watched for its beginning.