Today lowest(11607) will confirm deeper correction
Nifty-Intra Day Chart Analysis &
Market Outlook(30-10-2020)
Nifty-Intra Day Chart (29-Oct-2020):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channel
2- Selling between 11680-11744
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 11607-11744
Conclusions from intra day chart analysis
When US markets and SGX Nifty were crashing then following lines were told on 28-10-2020 in "Sustaining below 11662 will confirm sharp fall":-
technically sustaining beyond 11662-11756 should be firstly watched tomorrow for next big moves confirmations.
As Asian markets were also trading weak therefore gap down opening of Indian markets and closed also in Red above 11662 at 11670.80.
Firstly selling was seen at higher levels but minor consolidation was also seen at lower levels in last hours therefore sustaining below today lowest(11607) should also be firstly watched for deeper correction confirmations.