Short Term correction expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(26-08-2021)
Nifty-Intra Day Chart (25-Aug-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 16661-16695
2- Support between 16625-16642
3- Whole day actual trading between 16618-16712
Conclusions from intra day chart analysis
Selling was seen between 16661-16701 on 26-08-2021 and follow up selling developed within this range between 16661-16695 today also therefore closing was near lower levels of the day after slipping from higher levels.
As some support in last hour between 16625-16642 therefore some up moves can not be ruled out towards 16700 but expected that finally Short Term correction will be seen below today lowest 16618.