Upward moves expectations
towards 24500
Nifty-Intra Day Chart Analysis &
Market Outlook(07-05-2026)
Nifty-Intra Day Chart (06-May-2026):-
Technical Patterns formation in today intraday charts
1- Downward moves in first 2 hours after 138 points positive opening
2- More than 3 hours consolidation between 23998-24115
3- Sharp up
4- Last hour trading between 24288-24356
5- Whole day trading between 23998-24356
Conclusions from intra day chart analysis
Although downward moves in first 2 hours after 138 points positive opening but after that lower levels more than 3 hours consolidation was seen between 23998-24115 therefore more than 160 points sharp upward moves were seen just before last hour. As last hour trading at intraday higher levels was between 24288-24356 and whole day intraday selling was not seen also therefore more upward moves are expected towards 24500 and firstly sustaining it beyond should be watched tomorrow for next intraday decisive moves beginning confirmations because next resistances are lying within today highest(24356) and 24500 between 24387-24453.