Firstly upward moves expectations & correction only after complete intraday selling
Nifty-Intra Day Chart Analysis &
Market Outlook(26-09-2024)
Nifty-Intra Day Chart (25-Sep-2024):-
Technical Patterns formation in today intraday charts
1- More than 4 hours consolidation between 25872-25948
2- Sharp up moves in last half hour
3- Whole day actual trading between 25872-26032
Conclusions from intra day chart analysis
As higher levels clear intraday selling patterns formations yesterday therefore downward moves were expected and those were seen today also as well as Nifty got supports within yesterday mentioned supports(25849-25883) at 25,871.35 today.
Lower levels more than 4 hours good intraday consolidation today therefore sharp upward moves were seen in last half hour and Nifty closed first time above 26000 today. As lower good intraday consolidation and intraday selling patterns were not seen today as well as no resistance above today highest and closing therefore;-
1- Firstly upward moves are expected above 26000.
2- Until Nifty will not sustain below today lowest after complete intraday selling till then Short Term correction will not be seen.
3- Volatility may be seen for cooling down sentiments after Short Term indicators turning Over bought