Firstly watch sustaining beyond 19175
amid firstly up moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(03-11-2023)
Nifty-Intra Day Chart (02-Nov-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 19146-19175
2- Selling between 19107-19129
3- Sharp fall
4- Up moves with downward corrections
5- Whole day actual trading between 19065-19175
Conclusions from intra day chart analysis
Although firstly some up moves after gap up strong opening but selling developed at higher levels and after that follow up also selling after some down moves therefore sharp fall developed after 11:30 AM.
As last more than 3 hours up moves were seen with downward corrections therefore lower levels good intraday consolidation will also be understood and firstly up moves will be seen towards today highest. Firstly sustaining beyond today highest(19175) should be watched tomorrow because this levels is trading top of last 6 sessions and finally:-
1- Sustaining above 19175 will mean strong rally beginning after break out of last sessions trading range break out.
2- Sustaining below 19175 will mean down moves towards the lowest of last 6 sessions(18838)