Levels will confirm next
Short Term Trend
Nifty-Intra Day Chart Analysis &
Market Outlook(19-11-2020)
Nifty-Intra Day Chart (18-Nov-2020):-
Technical Patterns formation in today intraday charts
1- Consolidation between 12820-12887(immediate supports)
2- Slow up moves in last 2 hours
3- Whole day actual trading between 12820-12948
Conclusions from intra day chart analysis
As selling was seen between 12842-12865 yesterday therefore firstly Nifty consolidated within and near about this range today and after that up moves were seen.
Although today closing was at the top of the day and rally as well but some selling can not be ruled out in last 2 hours slow up moves amid heated sentiments therefore until Nifty will not sustain above today(12948) after fresh consolidation till then next immediate up moves will not be seen.
Expected that Nifty will firstly trade and prepare for next Short Term Trend within and near about 12798-12948 and finally sustaining it beyond will confirm it hence should be firstly watched in the next 1/2 sessions.