Firstly watch 16481 for Short Term 

Correction beginning confirmations

Nifty-Intra Day Chart Analysis & 

Market Outlook(20-08-2021)

Nifty-Intra Day Chart (18-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 16661-16701

2- Down moves in Bullish Falling Channels

3- Whole day actual trading between 16536-16701

Conclusions from intra day

chart analysis 

Although higher levels selling after positive opening but lower levels consolidation was also seen in last 3 hours through Down moves in Bullish Falling Channels. 

Nifty traded between 16481-16589 on on 16-08-2021 

Nifty traded between 16496-16628 on on 17-08-2021

Nifty traded between 16536-16701 on on 18-08-2021

Although higher bottom and higher top formations in last 3 sessions but last Wednesday closing(16568.85) was within all the last 3 sessions trading range because both intraday buying and selling was seen in last 3 sessions.  

As all the Global markets are down today therefore SGX Nifty traded more then 300 points. As lower levels consolidation was seen in last 3 sessions therefore sustaining below last 3 sessions lowest(16481) should be firstly watched in the coming sessions for Short Term correction beginning confirmations amid Global markets led depressed sentiments.

 Levels will confirm next 

Short Term moves

Nifty-Intra Day Chart Analysis & 

Market Outlook(18-08-2021)

Nifty-Intra Day Chart (17-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Selling between 16568-16585

2- Sharp fall

3- Up moves with downward corrections

4- Sharp up

5- Lat half hour selling between 16604-16628

6- Whole day actual trading between 16496-16628

Conclusions from intra day chart analysis 

Although closing at life time highest but intraday selling patterns were also seen in first 2 hours and last half hour. As Mid-session up moves were with downward corrections therefore lower levels some buying will also be considered hence expected that Nifty will trade between 16481-16628 tomorrow becuse some buying was seen above 16481 in last 2 sessions.

As both buying and selling between 16481-16628 in last 2 sessions therefore firstly fresh technical positions formations within this range finally sustaining it beyond will confirm next Short Term moves which should be watched for its confirmations in the coming sessions. 

16526-16589 will confirm next 

Short Term moves

Nifty-Intra Day Chart (16-Aug-2021):-

Technical Patterns formation in today intraday charts

1- Mixed Patterns formation between 16526-16589 

2- Whole day actual trading between 16481-16589

Conclusions from intra day chart analysis 

Although firstly slipping after flat opening but recovery from lower levels also and almost whole day trading with Mixed Patterns formation between 16526-16589 therefore expected that Nifty will firstly trade and prepare for next Short Term moves within and near about this trading range tomorrow. 

Let Nifty to sustain beyond 16526-16589 and then confirm next Short Term moves.

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