Fresh selling will mean huge fall possibility.
Nifty-Intra Day Chart Analysis &
Market Outlook(07-08-2020)
Technical Patterns formation in today intraday charts
1- 3 Hours sideways trading between 11137-11188
2- Up moves after RBI Credit policy
3- Selling between 11211-11256
4- Sharp fall
5- Slow Up moves in last hours
6- Whole day actual trading between 11128-11256
Conclusions from intra day chart analysis
Firstly 3 Hours sideways trading and after that post RBI Credit policy Up moves but higher levels good selling therefore sharp fall after 02:15 PM.
Although 98.5 points positive closing after slow Up moves in last hours but higher levels selling was seen within and below next resistances therefore it will be understood that follow up selling is being continuously developed at higher levels and once fresh selling tomorrow will mean huge fall possibility.