Down moves expectations towards/below
today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(14-02-2024)
Nifty-Intra Day Chart (13-Feb-2024):-
Technical Patterns formation in today intraday charts
1- 120 Points sharp fall in first 7 minutes after positive opening
2- Up moves with downward corrections
3- Selling Patterns formation between 21683-21766
4- Whole day actual trading between 21544-21766
Conclusions from intra day chart analysis
Although positive opening but firstly 120 points sharp fall was seen in first 7 minutes and after that up moves were also seen with downward corrections which means that lower levels supports and consolidation developed in first hour. As higher levels selling Patterns formations between 21683-21766 in the last 5 hours therefore down moves are expected below 21683 and towards today lowest(21544) in the coming sessions as well as firstly sustaining beyond today lowest should be watched tomorrow for next decisive move beginning confirmations despite today closing was with 0.59% gains. Next immediate supports below 21683 are as follows:-
1- 21468-21571
2- 21248-21311