Downward moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(11-10-2024)
Nifty-Intra Day Chart (10-Oct-2024):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Sharp Upward moves
3- Sharp Downward moves
4- Selling between 25013-25051
5- Whole day actual trading between 24980-25134
Conclusions from intra day chart analysis
Although positive opening but firstly Down moves were seen in Bullish Falling Channel therefore sharp upward moves were seen after that. As good intraday selling was seen between 25100-25234 yesterday also therefore Nifty could not sustain at higher levels within this range and sharp downward moves were also seen immediately.
As more than 3 hours fresh selling also developed between 25013-25051 in Mid-Session today and good selling was seen above 25100 yesterday also therefore downward moves below today lowest(24980) and towards 24757 is expected tomorrow.