Watch most crucial level for
next trends & big moves
Nifty-Intra Day Chart Analysis &
Market Outlook(01-09-2023)
Nifty-Intra Day Chart (31-Aug-2023):-
Technical Patterns formation in today intraday charts
1- Whole day down moves with upward corrections
2- Whole day actual trading between 19224-19388
Conclusions from intra day chart analysis
Previous sessions Outlooks of this week are live proofs of this fact that we were Bearish and Nifty closed at the lowest of this week on 31-08-2023.
Although positive opening but good intraday selling was seen in previous sessions therefore down moves started which remained continued till last minutes. As whole day down moves were with upward corrections therefore follow up selling will be understood and down moves are expected but sustaining below day's lowest(19224) will mean deeper correction beginning confirmations.
As 19245 is 23.6% Retracement levels of Impulsive Wave-[(iii)] of Wave-[(iii)] of Wave-1(from 16828.3 to Wave-19991.8) and day's lowest(19224) is below it therefore 19245 has become most crucial level and next trends with big moves decider also hence sustaining it beyond should be firstly watched today for its confirmations.