Finally slip below today lowest after follow up selling
Nifty-Intra Day Chart Analysis &
Market Outlook(16-09-2020)
Nifty-Intra Day Chart (15-Sep-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 11485-44508
2- Up moves in Bearish Rising Channels
3- Sideways trading between 11510-11535
4- Whole day actual trading between 11443-11535
Conclusions from intra day chart analysis
As all the Asian markets were trading in Green after strong closing of US markets yesterday therefore positive opening of Indian markets.
Although Nifty closed 81 points up today but it was due to strong rally in Dow Jones Futures which was trading 175 points up and all the European markets were in Green.
As firstly selling between 11485-44508 and after that selling through Up moves in Bearish Rising Channels also therefore expected that Nifty will not sustain above today highest(11535) and will finally slip below today lowest(11443) after follow up selling in the coming 1/2 sessions.