Sustaining above today highest will confirm rally continuation
Nifty-Intra Day Chart Analysis &
Market Outlook(19-08-2020)
Nifty-Intra Day Chart (18-Aug-2020):-
Technical Patterns formation in today intraday charts
1- Sideways trading between 11296-11339
2- Slow up moves
3- Sideways trading between 11367-11401
4- Whole day actual trading between 11254-11401
Conclusions from intra day chart analysis
Although today closing was at the top of on going rally with its new highest formations but one sided intra day patterns were not seen and sideways trading developed 2 times as well as Mid-session up moves were slow therefore selling also can not be ruled out.
As clear consolidation patterns were not seen today therefore firstly fresh consolidation and after that sustaining above today highest(11401) should be watched in the coming 1/2 sessions for rally continuation confirmation above today highest .