Levels will confirm next decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(15-10-2020)
Nifty-Intra Day Chart (14-Oct-2020):-
Technical Patterns formation in today intraday charts
1- More than 4 hours volatile trading between 11823-11883
2- Sharp up in last hours
3- Whole day actual trading between 11823-11997
Conclusions from intra day chart analysis
Following line was told at 12:47 AM on 14-10-2020 in "Correction continuation towards next supports":-
correction continuation is expected below day's lowest and towards next supports between 11782-11840
Nifty got supports within yesterday mentioned supports(11782-11840) and after that sharp up was seen in last hours but firstly more than 4 hours volatile trading between 11823-11883 because:-
Whole day today was full of following misleading news from media channels regarding Supreme Court hearing on Loan Moratorium:-
1- Firstly news was hearing will begin from 10:30 AM.
2- After that news came that hearing will start after Lunch Break.
3- After 02:30 PM channels told that Loan Moratorium case will be heard in the last.
4- After 03:00 PM this news was broadcasted that Judgement will not be announced today.
As such misleading news flow therefore 4 hours volatile trading between 11823-11883 and after that sharp up in last hours therefore firstly sustaining beyond 12000 and after that 11782-11883 should be watched for next decisive moves confirmations.