11075-11150 will confirm next 1% moves
Nifty-Intra Day Chart Analysis &
Market Outlook(05-08-2020)
Nifty-Intra Day Chart (04-Aug-2020):-
Technical Patterns formation in today intraday charts
1- Whole day Up moves with downward corrections
2- Last 2 hours trading within resistance range between 11075-11112
3- Whole day actual trading between 10909-11112
Conclusions from intra day chart analysis
As strong Global cues therefore up moves were seen after Green Opening and whole day intraday rally remain continued. Last 2 hours trading was within next resistance range(11075-11150) and finally sustaining beyond this range will confirm the life of today started rally which should be firstly watched tomorrow.
1- Next resistances above 11150 are between 11247-11299
2- Next supports below 11075 are between 10883-10934
As finally sustaining beyond 11075-11150 will confirm next 1% moves towards above mentioned supports and resistances therefore should be firstly watched tomorrow.