Finally sustaining beyond 23650 -23745
will confirm next intraday decisive
moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(06-02-2025)
Nifty-Intra Day Chart (05-Feb-2025):-
Technical Patterns formation in today intraday charts
1- Selling between 23745-23807
2- Sharp fall
3- Whole day actual trading between 23681-23807
Conclusions from intra day chart analysis
Following lines were told at 12:36 AM on 05-02-2025 in "Watch next resistances amid firstly Upward moves expectations":-
1- firstly upward moves are expected in the coming session
2- higher levels profit booking can not be ruled out
As was told 100% same happened and:-
1- Firstly Nifty traded 67 points up
2- After that profit booking developed at higher levels.
3- Finally very Short Term correction was seen.
4- Nifty closed 42 points down today.
Although gap up opening today but higher levels selling developed which remained continued more than 5 hours therefore sharp fall was seen in last hour and Nifty closed 42 points down as well as near the lower levels of the day after loosing all intraday gains.
Immediate supports of Nifty are above 23650 and immediate resistances of Nifty are above 23745 therefore Nifty will firstly trade and prepare for next intraday decisive moves within and near about 23650 -23745 an finally sustaining beyond this range should be watched tomorrow for next intraday decisive moves beginning confirmations.