Firstly watch immediate resistance
amid up moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(09-03-2023)
Nifty-Intra Day Chart (08-Mar-2023):-
Technical Patterns formation in today intraday charts
1- 109 Points down in first 5 minutes
2- Sharp up moves
3- More than 5 hours consolidation between 17647-17718
4- Sharp up in last half hour
5- Whole day actual trading between 17603-17766
Conclusions from intra day chart analysis
Although firstly 109 points slipping in first 5 minutes after weaker opening but immediately after that sharp up moves were seen and more than 5 hours consolidation also in Mid-session between 17647-17718 therefore again sharp up developed in last half hour hence today closing was near the higher levels of the day.
As today closing was with 42.95 points gains after 150 points recovery from lower levels with good intraday consolidation therefore up moves are expected towards immediate resistance between 17773-17800 and firstly sustaining beyond this resistance range should be watched tomorrow for next decisive moves beginning confirmations.