Firstly watch 18000 for next
decisive moves
Nifty-Intra Day Chart Analysis &
Market Outlook(12-10-2021)
Nifty-Intra Day Chart (11-Oct-2021):-
Technical Patterns formation in today intraday charts
1- Up moves after weak opening
2- Selling between 17980-18041
3- Down moves in last hours
4- Whole day actual trading between 17840-18041
Conclusions from intra day chart analysis
Although weaker opening but strong up moves started which crossed 18000 first time today. As selling developed above 18000 and selling patterns were seen between 17980-18041 therefore down moves begun which remain continued till last minutes and Nifty closed after loosing almost 100 points from higher levels.
As good selling above 18000 today therefore if follow up selling develops tomorrow also then sharp down moves well be seen and for its confirmations firstly sustaining beyond 18000 should be watched tomorrow for fresh rally above 18000 and Short Term correction below it.