Sustaining below 23228 will confirm Short Term correction beginning
Nifty-Intra Day Chart Analysis & Market
Outlook(11-06-2024)
Nifty-Intra Day Chart (10-Jun-2024):-
Technical Patterns formation in today intraday charts
1- Selling between 23385-23411
2- Sharp fall
3- More than 4 hours selling between 23312-23377
4- Sharp fall
5- Volatility in last hour between 23228-23301
6- Whole day actual trading between 23228-23411
Conclusions from intra day chart analysis
Although firstly some up moves after positive opening but higher levels selling was seen in first half hour therefore sharp fall was seen. As more than 4 hours follow up selling in Mid-session therefore again Nifty fallen sharply.
As volatility in last hour between 23228-23301 and technical positions revreses also during such volatility therefore firstly sustaining beyond this range should be watched in the coming sessions and finally sustaining below 23228 will mean Short Term correction beginning because higher levels good intraday selling was seen today.