Slipping towards next supports
Nifty-Intra Day Chart Analysis &
Market Outlook(21-09-2021)
Nifty-Intra Day Chart (20-Sep-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17512-17622
2- Down moves till last minutes
3- Whole day actual trading between 17361-17622
Conclusions from intra day chart analysis
Following lines were told on 18-09-2021 in "Short Term correction towards next supports amid Sideways market turning expectations":-
1- some down moves expectations in the beginning of next week.
2- down moves will be seen below last Friday lowest(17538) in the beginning of next week.
3- Short Term correction expectations towards above mentioned supports in the beginning of next week.
As was told 100% same happened and Nifty
closed 188 points down today.
As more than 4 hours good selling therefore down moves were seen till last minutes and more than 1% negative closing also but Nifty hovered around last Saturday posted 3rd support range(17370-17394) in last minutes.
Following supports are lying below today lowest:-
1- 17280-17305
2- 17213-17270
As consolidation patterns were not seen and only selling developed therefore Nifty may slip towards above mentioned supports but finally sideways market is expected between 17280-17512 tomorrow.