Watch next supports amid crashing Global markets
Nifty-Intra Day Chart Analysis &
Market Outlook(16-03-2023)
Nifty-Intra Day Chart (15-Mar-2023):-
Technical Patterns formation in today intraday charts
1- 163 Points up in first 5 minutes after positive opening
2- Whole day down moves with upward corrections
3- Whole day actual trading between 16939-17211
Conclusions from intra day chart analysis
As good intraday consolidation yesterday therefore Nifty traded 163 Points up in first 5 minutes after positive opening but negaive cues were from Global markets therefore selling started which remained continued whole day through down moves with upward corrections.
Crashing Global markets situation is as follows:-
1- Dow Jones traded more than 700 points down today.
2- All the European markets closed more than 3% down today.
As such depressing Global markets sentiments and only selling patterns were seen today in Indian Markets also therefore more down moves will be seen tomorrow also and firstly next supports between 16760-16855 should be watched also for next intraday decisive moves beginning confirmations.