17106-17219 will confirm next intraday
Short Term Moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(14-03-2023)
Nifty-Intra Day Chart (13-Mar-2023):-
Technical Patterns formation in today intraday charts
1- Nifty traded 119 points up after little positive opening
2- 5 Hours Down moves with upward corrections
3- Support in last hour between 17114-17167
4- Whole day actual trading between 17114-17529
Conclusions from intra day chart analysis
As Dow Jones Futures was trading more than 400 Points up and all the Asian markets were also trading with good gains today morning therefore Nifty traded 119 points up after little positive opening but after that down moves started which remained continued till last hour.
Sentiments turned most depressing after Dow Jones Futures more than 600 points sharp fall therefore down moves started in Indian markets also. 5 Hours Mid-session Down moves were with upward corrections ie with continuous selling therefore more down moves can not be ruled out. Although today closing was 1.49 down but following points should also be kept in mind:-
1- Support was seen today in last hour between 17114-17167
2- Today lowest and closing was last Saturday posted 2nd supports range(17106-17219)
3- Very Short Term indicators have become oversold after last week and today down moves
As today last hours supports(17114-17167) were within last Saturday posted 2nd supports range(17106-17219) also therefore firstly sustaining beyond 17106-17219 should be watched tomorrow for next intraday Short Term Moves beginning confirmations.