Watch levels amid some up moves are expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(21-08-2020)
Nifty-Intra Day Chart (20-Aug-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 1325-11352
2- Sharp fall
3- Down moves in Bullish Falling Channels
4- Whole day actual trading between 11290-11361
Conclusions from intra day chart analysis
Following lines were told yesterday in "Just watch next supports amid down moves expectations":-
1- 11367-11380
2- 11296-11320
Just watch above next supports amid down moves expectations below today lowest(11395)
As was told 100% same happened and down moves were seen as well as Nifty got supports just below 2nd supports at 11289.80.
As firstly selling after gap down opening but some consolidation was seen in last hours therefore today trading should be understood with Mixed patterns formations and finally sustaining beyond day's trading range(11290-11361) should be watched for next decisive moves beginning confirmations. As Indian markets outperformed Global markets therefore firstly some up moves are expected.Watch