Firstly watch levels for
first strong signal
Nifty-Intra Day Chart Analysis &
Market Outlook(22-10-2020)
Nifty-Intra Day Chart (21-Oct-2020):-
Technical Patterns formation in today intraday charts
1- Selling between 11985-12018
2- Violent volatility in last two and half hour
3- Whole day actual trading between 11776-12018
Conclusions from intra day chart analysis
Selling was seen between 11923-12025 on 15-10-2020 and follow up selling was seen within this range between 11985-12018 today therefore resistances at higher levels have turned stronger today.
As selling was seen in previous 2 sessions therefore down moves below 11820.40 and 11838 were told in previous 2 Outlooks and Nifty slipped below these 2 levels also today but amid last two and half hour violent volatility therefore view will cautious and levels will be firstly watched tomorrow because technical positions reverses in such high volatility also.
As previous 2 sessions selling between 11985-12025 therefore firstly sustaining it beyond should be watched tomorrow for first strong signal of next decisive moves beginning.