Watch next supports amid Downward
moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(20-02-2025)
Nifty-Intra Day Chart (19-Feb-2025):-
Technical Patterns formation in today intraday charts
1- 130 points sharp fall in first minute.
2- Sharp upward moves
3- Selling between 23020-23049
4- Sharp fall
5- Down moves with upward corrections
6- Whole day actual trading between 22815-23049
Conclusions from intra day chart analysis
As negative news of tariff increase on US imports was broken out therefore Nifty traded 130 points down in first minute after weaker opening. Good intraday consolidation was seen in last 2 sessions therefore Nifty could not sustain at lower levels and moves up sharply as well as traded 104 points up also at 10:51 AM.
Nifty could not sustain at higher levels also because fresh selling developed and after that whole day Down moves were with upward corrections therefore higher levels intraday selling patterns formations will be understood and resultant downward moves are expected towards next supports(22760-22881) and finally sustaining it beyond should be watched tomorrow for next intraday decisive moves beginning confirmations.