11057 will confirm deeper correction
Nifty-Intra Day Chart Analysis &
Market Outlook(30-07-2020)
Nifty-Intra Day Chart (29-Jul-2020):- |
1- Selling between 11244-11341
2- Sideways trading between 11150-11235
3- Whole day actual trading between 11150-11341
Conclusions from intra day chart analysis
As firstly more than 4 hours selling therefore some down moves but sharp fall was not seen and last hour sideways trading was seen between 11150-11235 therefore expected that Nifty will firstly trade within and near about this range tomorrow.
Previous multiple resistances were lying above 11244 and fresh selling was seen within it today also. Expected that Nifty will firstly trade and prepare for next decisive moves within and near about 11057-11341 and finally sustaining beyond this range will confirm it and if fresh selling developes in the coming 2/3 sessions then deeper correction will be seen and its confirmation will be sustaining below 11057.