Finally sustaining beyond 22451-22556
will confirm on going relief rally continuation/completion
Nifty-Intra Day Chart Analysis &
Market Outlook(07-03-2025)
Nifty-Intra Day Chart (06-03-2025):-
Technical Patterns formation in today intraday charts
1-Sharp falls
2-Up moves with downward corrections
3-Up moves in Bearish Rising Channel
4-Whole day actual trading between 22246-22556
Conclusions from intra day chart analysis
Although gap up opening but could not sustain in resistance range(22451-22508) and fallen sharply in first half hour. Firstly Up moves were in Bearish Rising Channel but after that 4 hours Up moves were in Bearish Rising Channel therefore firstly fresh consolidation is required for next upward moves beginning. If fresh selling develops then it will mean that last 2 sessions relief rally termination and on going correction continuation.
As finally sustaining beyond 22451-22556 will confirm on going relief rally continuation/completion therefore sustaining beyond this range should be watched for next intraday decisive moves beginning.