Watch next supports after
more down moves
Nifty-Intra Day Chart Analysis & Market
Outlook(10-03-2023)
Nifty-Intra Day Chart (09-Mar-2023):-
Technical Patterns formation in today intraday charts
1- 100 Points down moves in first hour after gap up opening
2- Selling between 17681-17722
3- Down moves with upward corrections
4- Whole day actual trading between 17574-17772
Conclusions from intra day chart analysis
Although firstly gap up opening but huge selling developed therefore 100 points down moves were seen in first hour. As again selling between 17681-17722 and after that follow up selling through Down moves with upward corrections also therefore Nifty slipped 222 points from higher levels and Nifty closed 0.93% down.
As only intraday selling and and consolidation was not seen therefore expected that more down moves will be seen towards following next supports.
1- 17536-17577
2- 17452-17493
Let Nifty to consolidate and sustain above next supports then fresh up decisive up moves will be seen.