Nifty-Intra Day Chart Analysis &
Market Outlook(11-09-2020)
Nifty-Intra Day Chart (10-Sep-2020):-
Technical Patterns formation in today intraday charts
1- Supports between 11343-11357
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Double bottom supports at 11366(immediate supports)
5- Up moves in Bearish Rising Channel
6- Whole day actual trading between 11328-11464
Conclusions from intra day chart analysis
As firstly supports between 11343-11357 after gap up opening therefore up moves were seen which were in Bearish Rising Channel hence signals of some selling developed.
As some consolidation was seen through Down moves in Bullish Falling Channel and Nifty got double bottom supports at 11366 therefore it will be immediate supports of Nifty.
Although closing was at the top of the day but last hour up moves in Bearish Rising Channel therefore signals of selling at higher levels also.
As after 10:30 AM and higher levels selling patterns formations therefore view will not be Bullish and expected that finally Nifty will not sustain above today highest(11464) and down moves will be seen towards following immediate supports:-
1- 11366
2- 11343