Watch 24388 amid firstly downward
moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(04-12-2024)
Nifty-Intra Day Chart (03-Dec-2024):-
Technical Patterns formation in today intraday charts
1- Firstly 87 Points down moves in first 15 minutes after 91 points positive opening
2- Sharp upward moves
3- Consolidation between 24388-24439 in Mid-session
4- Selling Patterns formation in last 2 hours between 24453-24481
5- Whole day actual trading between 24281-24481
Conclusions from intra day chart analysis
Although firstly 87 Points down moves in first 15 minutes after 91 points positive opening but after that sharp upward moves were seen and Nifty recovered all this loss and started to trade strongly because good intraday consolidation was also seen in Mid-session. As higher levels intraday selling Patterns formations also in last 2 hours therefore firstly downward moves are expected but just below it consolidation was also seen therefore until Nifty will sustain below 24388 after complete intraday selling patterns formation till then decisive downward moves will not be seen.