Watch levels for next trend confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(18-03-2021)
Nifty-Intra Day Chart (17-Mar-2021):-
Technical Patterns formation in today intraday charts
1- Only volatility in first 2 hours
2- Sideways trading between 14818-14857
3- Sideways trading between 14755-14801
4- Sharp fall in last hour
5- Whole day actual trading between 14697-14956
Conclusions from intra day chart analysis
Although closing was at the lowest of the day after sharp fall in last hour but intraday selling patterns were not seen because only sideways trading developed after volatility in first 2 hours.
When no selling patterns formations despite 189 Points negative closing then next supports below day's lowest and next resistances above day's highest should be watched for next trend confirmations after sustaining beyond day's trading range(14697-14956)
1- Next supports are between 14504-14615
2- Next resistances are between 14978-15051