Firstly watch 17765-17839 for next decisive moves beginning confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(17-08-2022)
Nifty-Intra Day Chart (16-Aug-2022):-
Technical Patterns formation in today intraday charts
1- Firstly up moves after gap up opening
2- Selling between 17814-17839
3- Sharp falls
4- Support between 17765-17790
5- Sharp up moves
6- Selling between 17822-17836
7- Whole day actual trading between 17765-17839
Conclusions from intra day chart analysis
Although firstly up moves after gap up opening but selling developed at higher levels between 17814-17839 therefore sharp falls were seen after that. As supports at lower levels therefore Sharp up moves in last hour but again selling at higher levels.
As both higher levels selling at higher levels and lower levels supports also between 17765-17839 therefore expected that Nifty will firstly trade within and near about this range tomorrow and finally sustaining beyond this range will confirm next decisive moves beginning which should be firstly watched tomorrow.