Firstly sideways market and sharp fall if fresh selling develop
Nifty-Intra Day Chart Analysis &
Market Outlook(30-09-2021)
Nifty-Intra Day Chart (29-Sep-2021):-
Technical Patterns formation in today intraday charts
1- Consolidation between 17609-17683(immediate supports)
2- Up moves
3- Selling between - 17755-17781(immediate resistances)
4- Whole day actual trading between 17609-17781
Conclusions from intra day chart analysis
Although firstly 140 points slipping after weaker opening but lower levels more than 3 hours good consolidation developed therefore up moves were seen in Mid-session. As minor selling also at higher levels therefore down moves were seen in last half hour.
Last 5 sessions trading between 17576-17947 with following supports and resistances within this range therefore Nifty will firstly remain sideways within this range:-
Resistances:-
1- 17907-17943
2- 17822-17896
3- 17755-17781
Supports:-
1- 17609-17683
As resistances are much stronger than supports therefore expected that Nifty will not move above 17947 anf if fresh selling develop tomorrow then sharp fall may be seen towards yesterday updated 3 supports ranges.