New top of Nifty in this week
Nifty-Intra Day Chart Analysis &
Market Outlook(21-06-2023)
Nifty-Intra Day Chart (20-Jun-2023):-
Technical Patterns formation in today intraday charts
1- 82 Points sharp fall in first 20 minutes after flat opening
2- Up moves with downward corrections
3- Sharp up in last half hour
4- Whole day actual trading between 18661-18839
Conclusions from intra day chart analysis
Although Nifty opened flat but 82 points sharp fall was seen in first 20 minutes because all the Asian markets were trading in Red and some were more than 1% down as well as Dow Jones Futures was trading more than 125 points down.
Indian markets out performed all the Global markets today because Global markets remained depressed most of the time today but the up moves which started from lower levels after 10:30 PM remained continued till last minutes and Nifty closed 61 points up after 178 points recovery frpm lower levels in last 5 hours.
As good intraday consolidation today through Up moves with downward corrections and Indian markets completely ignored Global markets weakness therefore expected that up moves above life time highest(18887.6) and new top of Nifty will be seen in this week because no significant resistance above today closing.