Down moves expectations
towards today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(04-11-2022)
Nifty-Intra Day Chart (03-Nov-2022):-
Technical Patterns formation in today intraday charts
1- 70 Points recovery from lower levels in first 4 minutes after gap down weaker opening
2- Selling between 18045-18106
3- Selling between 18025-18067
4- Whole day actual trading between 17960-18106
Conclusions from intra day chart analysis
Although firstly gap down opening but 70 points recovery from lower levels in first 4 minutes and Nifty traded in positive zone also. As firstly more than 2 hours selling between 18045-18106 and after that follow up selling in last 2 hours also between 18025-18067 therefore firstly down moves are expected towards today lowest(17959.20) which is within yesterday mentioned 1st supports between 17938-17964.