Watch next supports amid Short
Term down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(21-09-2022)
Nifty-Intra Day Chart (20-Sep-2022):-
Technical Patterns formation in today intraday charts
1- Up moves after gap up opening
2- Selling between 17852-17919
3- Sharp fall in last hour
4- Whole day actual trading between 17745-17919
Conclusions from intra day chart analysis
Following 3 resistances were posted on 17-09-2022 in "Most crucial range will confirm next trend and bigger moves":-
1- 17763-17798
2- 17862-17959
3- 18044-18091
As good intraday consolidation yesterday therefore more than 100 points gap up opening and after that up moves were seen in first hour today but higher levels more than 4 hours selling developed within above mentioned 2nd resistance also hence sharp fall in last hour.
Immediate resistance of Nifty is now 17852-17959 which have become stronger also after fresh selling within previous resistance range(17862-17959) today and firstly down moves are expected below 17852 as well as complete fresh consolidation is firstly required for sustaining above 17959. As next supports below 17852 are between 17581-17667 therefore firstly sustaining beyond this range should be be watched amid Short Term down moves expectations.