Rally continuation towards next resistances
Nifty-Intra Day Chart Analysis & Market Outlook
(16-03-2021)
Nifty-Intra Day Chart (15-Mar-2021):-
Technical Patterns formation in today intraday charts
1- 225 Points sharp fall in first 30 minutes
2- 4 Hours consolidation between 14746-14845(immediate supports)
3- Up moves in last hours
4- Whole day actual trading between 14746-15048
Conclusions from intra day chart analysis
Firstly 225 Points sharp fall in 30 minutes after positive opening but lower levels 4 Hours consolidation therefore Up moves were seen in last hours.
3rd Supports between 14663-14742 were updated yesterday in "Levels will indicate and confirm next big moves" and Nifty consolidated just above it between 14746-14845 today. It means that previous supports have been strengthen therefore expected that today started rally will remain continued towards following next resistances:-
1- 15201-15241
2- 15262-15319