Watch levels also amid down moves expectations
Intra Day Chart Analysis & Market Outlook
(24-04-2020)
Nifty-Intra Day Chart (23-Apr-2020):- |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising Channels
2- Down moves in Bullish Falling Channel in Mid-Session
3- Sideways trading between 9309-9343 in last hour
4- Whole day actual trading between 9171-9343
Conclusions from intra day chart analysis
Although today closing was near the higher levels of the day but all the Up moves were in Bearish Rising Channels therefore emergence of selling signals and resultant down moves expectations have developed today.
As some buying through Down moves in Bullish Falling Channel up to 9240 in Mid-Session and sideways trading between 9309-9343 in last hour therefore if fresh selling develops then correction beginning confirmation will be after sustaining below 9240.
Expected that Nifty will firstly trade prepare for next moves within and near about 9240-9403 and finally sustaining beyond this range will confirm next decisive moves which should also be watched amid down moves expectations below 9240.