Levels will confirm next
Short Term moves
Nifty-Intra Day Chart Analysis &
Market Outlook(18-08-2021)
Nifty-Intra Day Chart (17-Aug-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 16568-16585
2- Sharp fall
3- Up moves with downward corrections
4- Sharp up
5- Lat half hour selling between 16604-16628
6- Whole day actual trading between 16496-16628
Conclusions from intra day chart analysis
Although closing at life time highest but intraday selling patterns were also seen in first 2 hours and last half hour. As Mid-session up moves were with downward corrections therefore lower levels some buying will also be considered hence expected that Nifty will trade between 16481-16628 tomorrow becuse some buying was seen above 16481 in last 2 sessions.
As both buying and selling between 16481-16628 in last 2 sessions therefore firstly fresh technical positions formations within this range finally sustaining it beyond will confirm next Short Term moves which should be watched for its confirmations in the coming sessions.