Rally continuation with Very
Short Term correction possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(02-07-2024)
Nifty-Intra Day Chart (01-Jul-2024):-
Technical Patterns formation in today intraday charts
1- Sharp up moves after negative opening
2- More than 5 hours up moves with downward corrections
3- Whole day actual trading between 23993-24164
Conclusions from intra day
chart analysis
Although negative opening but firstly sharp up moves from lower levels and after that more than 5 hours up moves with downward corrections and today closing at life time top also therefore on going rally continuation is expected tomorrow. As Very Short Term indicators have turned Overbought therefore Very Short Term correction also can not be ruled out.