Down Moves expectations
below today lowest
Nifty-Intra Day Chart Analysis &
Market Outlook(16-05-2023)
Nifty-Intra Day Chart (15-May-2023):-
Technical Patterns formation in today intraday charts
1- Whole day up moves in Bearish Rising Channel
2- Sharp fall
3- Whole day actual trading between 18288-18458
Conclusions from intra day chart analysis
As all the Asian markets were trading with good gains and Dow Jones Futures was also more than 100 points up today morning therefore Indian markets starts to move up after flat opening which remain continued til 02:30 PM. Although today closing was with 84 points gains but whole day up moves were in Bearish Rising Channel therefore sharp fall was seen in last hour and down moves are expected below today lowest(18288) in the coming sessions.