Next resistances range will
confirm rally or correction
Nifty-Intra Day Chart (11-Aug-2021):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Sharp up moves
3- Whole day actual trading between 16163-16338
Conclusions from intra day chart analysis
As good selling yesterday therefore down moves were seen below 16200 today but these down moves were in Bullish Falling Channels hence sharp up moves also seen above today lowest.
Expected that up moves will be seen towards next resistances between 16301-16359 and firstly sustaining it beyond should be watched tomorrow for rally continuation above 16359 and correction continuation below 16301.