Levels will confirm life of 5 sessions
correction amid huge fall possibility
Nifty-Intra Day Chart Analysis &
Market Outlook(19-03-2021)
Nifty-Intra Day Chart (18-Mar-2021):-
Technical Patterns formation in today intraday charts
1- 4 Hours selling between 14761-14875(immediate Resistances)
2- Sharp fall
3- Last hours support between 14479-14590
4- Whole day actual trading between 14479-14875
Conclusions from intra day chart analysis
Although strong opening but selling developed and sharp fall was seen after 4 Hours selling between 14761-14875.
Next supports between 14504-14615 was updated in previous outlook which is last supports of previous 32 sessions sideways trading range(14468-15421) and Nifty closed between it after slipping below it.
As Nifty got supports in last hours between 14479-14590 and closed also within it therefore sustaining it beyond should be firstly watched tomorrow for the life of last 5 sessions correction as well as remain cautious because sustaining below today lowest will confirm huge fall after last 32 sessions trading range breaking down confirmations.