Levels will confirm next decisive moves
Intra Day Chart Analysis & Market Outlook
(09-04-2020)
Nifty-Intra Day Chart (08-Apr-2020):- |
| Just click on chart for its enlarged view |
1- Selling between 9014-9131(Immediate Resistances)
2- Last 3 hours trading with Mixed Patterns formation between 8654-8920
3- Whole day actual trading between 8654-9131
Conclusions from intra day chart analysis
As yesterday up moves were with intraday corrections therefore firstly up moves were seen towards next resistances today but selling developed at higher levels hence slipped and today closing was below yesterday given first resistances(8846-9038)
Although today closing was near the lower levels of the day but last 3 hours trading was with Mixed Patterns formation between 8654-8920 therefore firstly sustaining beyond this range should be watched tomorrow for next decisive moves confirmations.
As multiple resistances are lying above 8920 therefore up may be slow because fresh consolidation is required for sustained up moves but sustaining below or forceful break down of 8654 will mean sharp down moves hence remain cautious.