Follow up selling tomorrow will mean decisive down moves
Intra Day Chart Analysis & Market Outlook
(28-08-2019)
Nifty-Intra Day Chart (27-Aug-2019):- |
| Just click on chart for its enlarged view |
1- Most time sideways trading between 11080-11141
2- At higher levels up moves in Bearish Rising Channels
3- Lower levels supports
4- Whole day actual trading between 11050-11141
Conclusions from intra day chart analysis
1st Resistances between 11086-11181 were updated yesterday in "Watch levels for rally continuation confirmations" and Nifty traded most time within this range today.
Although today closing was near the higher levels of the day but higher levels selling was also seen through up moves in Bearish Rising Channels. As today selling was within above mentioned resistance range therefore emergence of down moves possibility
As some supports were also seen at lower levels today therefore once follow up selling tomorrow will mean decisive down moves will be seen below today lowest.