Follow up selling and today will confirm decisive down moves
Nifty-Intra Day Chart Analysis &
Market Outlook(09-10-2020)
Nifty-Intra Day Chart (08-Oct-2020):-
Technical Patterns formation in today intraday charts
1- 4 Hours up moves in Bearish Rising Channel
2- Sharp fall
3- Whole day actual trading between 11792-11905
Conclusions from intra day chart analysis
As Dow Jones closed more than 500 points up yesterday therefore huge gap up opening of Indian markets but after that 4 hours up moves in Bearish Rising Channel hence sharp fall was seen.
As good selling at higher levels today therefore if follow up selling develops tomorrow then decisive down moves will be seen and its confirmation will be sustaining below today lowest(11792)