Finally down moves amid volatility possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(22-09-2020)
Nifty-Intra Day Chart (21-Sep-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 11481-11535
2- Last 3 hours down moves
3- Whole day actual trading between 11218-11535
Conclusions from intra day chart analysis
Following lines were told at 03:03 AM on 19-09-2020 in "Correction continuation which may be deeper also":-
1- correction continuation is expected in the coming week/weeks which may be deeper also.
2- Consolidation(Supports) in last 14 sessions are sessions:-
A- 11301-11339
B- 11186-11243
As was told 100% same happened and:-
1- Nifty closed 2.21% down today.
2- Nifty got supports within 2nd supports range(11186-11243) at 11218.50 and closed just above it at 11250.55 today.
As good selling in previous week and firstly 3 hours follow up selling between 11481-11535 today therefore down moves were seen in last 3 hours and today closing was near the lower levels of the day.
Sufficiently strong supports were lying between 11186-11243 and Nifty honored this support range today therefore Nifty will firstly trade within and above it tomorrow as well as some up moves also can not be ruled out if Asian markets will not be in crashing mode tomorrow morning because Very-Very Short Term indicators have turned Over sold after last 3 hours today down moves.
Finally down moves will be seen below today lowest(11218.50) after 1/2 sessions trading near about 11186-11243 amid volatility possibility.