Finally sustaining beyond 23273-23356
will confirm next intraday
decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(17-01-2025)
Nifty-Intra Day Chart (16-Jan-2025):-
Technical Patterns formation in today intraday charts
1- Whole day sideways trading between 23273-23356
2- Whole day actual trading between 23283-23391
Conclusions from intra day chart analysis
Although 83 points gap up strong opening but down moves were seen in first 2 hours and after that whole day sideways trading was seen within 83 points between 23273-23356. As one sided intraday patterns were not seen which means that both higher levels selling patterns and lower levels consolidation patterns developed therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about 23273-23356 as well as finally sustaining beyond this trading range will confirm next intraday decisive moves beginning:-
1- Towards following next supports below 23273:-
A- 23135-23169
B- 23048-23097
2- Towards following next resistances above 23356:-
A- 23498-23601
B- 23603-23649