Pull Back Rally possibility towards 24450

Nifty-Intra Day Chart Analysis &

Market Outlook(18-12-2024)

Nifty-Intra Day Chart (17-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Selling between 34568-24624 

2- Down moves with upward corrections

3- Down moves in Bullish Falling Channels

4- Whole day actual trading between 24304-24624

Conclusions from intra day chart analysis 

As firstly selling in first hour and after that follow up selling also through  Down moves with upward corrections therefore down moves remain continued till last hour but last 2 hours Down moves were in Bullish Falling Channels and Very Short Term indicators have turned Over sold also therefore Pull Back Rally possibility towards 34450 can not be ruled out. If fresh consolidation develops near about today lowest then expected Pull Back Rally will be seen tomorrow.

Firstly sustaining beyond 246602-24696 will confirm next intraday decisive moves beginning

Nifty-Intra Day Chart Analysis & Market

Outlook(17-12-2024)

Nifty-Intra Day Chart (16-Dec-2024):-

Technical Patterns formation in today intraday charts

1- Down moves with upward corrections after negative opening

2- Up moves with downward corrections in the last more than 3 hours between 246602-24696

3- Whole day actual trading between 24602-24781

Conclusions from intra day chart analysis 

Although firstly "intraday selling patterns" of "Down moves with upward corrections" were seen in first 2 hours after negative opening but "intraday consolidation patterns" of "Up moves with downward corrections" were also seen at lower levels in the last more than 3 hours therefore whole day today trading will me understood with Mixed Patterns formation between 24602-24781. As one sided intraday trading patterns were not seen whole day today therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about today trading range as well as finally sustaining it beyond will confirm next one sided decisive moves beginning hence it should be also watched in the coming sessions for its beginning confirmations.

As last more than 3 hours trading was between 24602-24696 and firstly sustaining beyond this range will generate first strong signal of next intraday decisive moves beginning it should also be firstly watched for its confirmations.