Watch Levels amid Assemble Election results led intraday volatility
Intra Day Chart Analysis & Market Outlook(24-10-2019)Nifty-Intra Day Chart (23-Oct-2019):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channels
2- Sharp up after lower levels consolidation
3- Mixed Patterns formation between 11612-11651
4- Sharp fall in last hour
5- Whole day actual trading between 11554-11651
Conclusions from intra day chart analysis
As all the Asian markets were trading in Red therefore firstly slipping after flat opening but lower levels consolidation developed through Down moves in Bullish Falling Channels.
Whole day good consolidation was seen yesterday and lower levels follow up consolidation developed in first hour today therefore sharp up moves were seen in Mid-session.
Although more than 4 hours trading with Mixed Patterns formation between 11612-11651 today but sharp fall was seen in last hour also therefore firstly sustaining beyond this 4 hours trading range(11612-11651) should be watched tomorrow because tomorrow sessions may be highly intraday volatile due to Maharashtra and Haryana Assembly Election results which will be declared during Indian trading hours.