Finally sustaining beyond will confirm
17903-18134 next Short term moves
Nifty-Intra Day Chart Analysis &
Market Outlook(17-02-2023)
Nifty-Intra Day Chart (16-Feb-2023):-
Technical Patterns formation in today intraday charts
1- Up moves after gap up strong opening
2- Selling between 18110-18134
3- Selling between 18087-18101
4- Selling between 18069-18088
5- Sharp fall in last hour
6- Whole day actual trading between 18001-18134
Conclusions from intra day chart analysis
Following lines were told yesterday in "Rally continuation expectations towards & above 18100":-
1- rally continuation is expected towards and above 18100
2- 1st Resistances between 18109-18132
As was told yesterday 100% same happened today and:-
1- Firstly rally was seen today above 18100 and today highest was at 18134.75
2- Today highest was only 2.75 points above yesterday mentioned resistances between 18109-18132.
Although firstly up moves after gap up strong opening today but selling begun which remained continued with continuous follow up selling till last hour therefore resultant today closing was near the lower levels of the day.
Good consolidation was seen between 17903-17956 yesterday and equally good selling was between 18069-18134 today therefore firstly Nifty will have to trade and prepare for next moves within and near about 17903-18134.
As both lower levels buying and higher levels selling in last 2 sessions between 17903-18134 therefore firstly sustaining beyond this range should be watched in the coming sessions for next Short term moves beginning final confirmations.