Watch sustaining beyond 25223 amid firstly upward moves expectations
Nifty-Intra Day Chart Analysis &
MarketOutlook(15-10-2024)
Nifty-Intra Day Chart (14-Oct-2024):-
Technical Patterns formation in today intraday charts
1- Consolidation in first half hour between 25027-25058
2- Sharp up
3- More than 5 hours consolidation between 25080-25159
4- Whole day actual trading between 25018-25159
Conclusions from intra day chart analysis
As firstly consolidation in first half hour after positive opening therefore sharp up moves were seen after that. More than 5 hours consolidation also in all the last hours hence whole day only consolidation patterns formations will be understood therefore more upward moves will be seen towards 25223 and sustaining it beyond should also be watched in the coming sessions because:-
1- Sustaining above 25223 will confirm fresh strong rally begining towards life time top after Short Term correction completion,
2- Sustaining below 25223 will confirm fresh downward moves beginning towards the bottom(24694.30) of on going correction.