Levels will confirm decisive down moves
Nifty-Intra Day Chart Analysis &
Market Outlook(11-08-2020)
Nifty-Intra Day Chart (10-Aug-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 11306-11337
2- Sharp fall
3- Sideways trading between 11264-11296
4- Whole day actual trading between 11238-11337
Conclusions from intra day chart analysis
Resistances 11244-11341 was was updated on 08-08-2020 in "Wave-C deeper correction confirmations from 3 levels" and Nifty traded almost whole day trading was within this range(11238-11337) with higher levels selling.
As higher levels more than 3 hours selling therefore sharp fall in Mid-sessions and after that last one hours sideways trading does mean that if follow up selling develops then decisive down moves will be seen.
Two sessions selling within today trading range and once sustaining below today lowest will mean decisive down moves beginning which should be firstly watched in the coming sessions for its confirmations.