Finally down moves continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(04-08-2020)
Nifty-Intra Day Chart (03-Aug-2020):-
Technical Patterns formation in today intraday charts
1- 86 Points sharp fall in first 5 minutes
2- Selling between 10953-11006(Immediate Resistances)
3- supports in last hour between 10883-10934
4- Whole day actual trading between 10883-11058
Conclusions from intra day chart analysis
Following lines were told at 00:00 AM on 00-00-2020 in "3 Crucial levels will confirm next big corrective moves":-
down moves are expected below last Friday lowest in the beginning of next week.
Last Friday lowest was at 11026.50 and Nifty traded at 11007 within first 20 seconds today
Firstly 86 Points sharp fall was seen in first 5 minutes and after that 3 hours selling between 10953-11006 therefore down moves were seen till last half hour but minor supports at lower levels hence some up moves towards 10953 can not be ruled out tomorrow but finally correction continuation is expected below today(10883).