Sustaining beyond 23817-23912 will
confirm next intraday decisive
moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(05-11-2024)
Nifty-Intra Day Chart (04-Nov-2024):-
Technical Patterns formation in today intraday charts
1- 171 Points sharp fall in first 2 minutes
2- Down moves in Bullish Falling Channel
3- Support between 23817-23912
4- Up moves in Bearish Rising Channel
5- Whole day actual trading between 23817-24316
Conclusions from intra day chart analysis
Although little positive opening but higher levels good intraday selling on Diwali Muhurt Session therefore not sustaining at higher levels and 171 points sharp fall was seen in first 2 minutes. As after that Down moves were in Bullish Falling Channel and lower levels support formations also therefore upward moves were seen in last 2 hours which were in Bearish Rising Channel hence hence some downward moves towards today lowest can not be ruled out. Firstly sustaining beyond today formed supports (23817-23912) should be watched tomorrow for next intraday decisive moves beginning confirmations