Finally 24922-24971 will confirm
next bigger moves amid firstly
down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(02-08-2024)
Nifty-Intra Day Chart (01-Aug-2024):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
2- Selling between 24974-25026
3- Whole day actual trading between 24957-25078
Conclusions from intra day chart analysis
Although firstly up moves after gap up strong opening above 25,000 but intraday selling patterns were seen in previous sessions also therefore not sustaining at higher levels and down moves begun which remined continued more than 5 hours. As these down moves were with upward corrections which is a selling pattern and selling was seen between 24974-25026 also therefore down moves are expected towards day's lowest(24957). Finally sustaining beyond 24922-24971 should be watched for next bigger moves beginning confirmations because Nifty has traded more than 7 hours in previos 2 sessions.