Firstly watch levels for next decisive moves confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(30-09-2020)
Nifty-Intra Day Chart (29-Sep-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 11241-11305
2- Selling between 11251-11282
3- Down moves in Bullish Falling Channels
4- Support between 11181-11227
5- Whole day actual trading between 11181-11305
Conclusions from intra day chart analysis
Although Nifty closed near the top of the day with 177 points gains yesterday but we were not Bullish and cautious therefore told following lines at 01:03 AM today in "Firstly watch 11237 for immediate up moves confirmations":-
firstly sustaining above 11237 should be watched tomorrow for immediate up moves confirmations.
Nifty could not sustain above 11237 and closed below it at 11222.40 after good selling above it. As some supports and consolidation through Down moves in Bullish Falling Channels was also seen below it today therefore whole day today trading will be understood with Mixed patterns formations between 11181-11305 because both lower levels buying and higher levels selling was seen today.
Expected that Nifty will firstly trade and prepare for next decisive moves within and near about today trading range(11181-11305) and finally sustaining it beyond will confirm next decisive moves which should be firstly watched in the coming sessions.