Fresh selling will mean
Short Term correction
below 16200 and towards 16000
Nifty-Intra Day Chart Analysis &
Market Outlook(11-08-2021)
Nifty-Intra Day Chart (10-Aug-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 16301-16359(immediate resistances)
2- Sharp fall
3- Slow up moves
4- Whole day actual trading between 16203-16359
Conclusions from intra day chart analysis
Although up moves started after positive opening but more than 4 hours selling between 16301-16359 hence sharp fall was seen in Mid-session. As minor supports at lower levels therefore slow up moves in last hour but until complete consolidation will not develop till then Nifty will not be able to sustain above today highest and fresh selling in the coming 1/2 sessions will mean Short Term correction below 16200 and towards 16000.