Finally watch 19258-19482 amid
firstly sideways trading expectations
within this range
Nifty-Intra Day Chart Analysis
(17-Aug-2023)
Nifty-Intra Day Chart (16-Aug-2023):-
Technical Patterns formation in today intraday charts
1- 117 Points down in first minute after negative opening
2- Whole day slow up moves
3- Whole day actual trading between 19318-19482
Conclusions from intra day chart analysis
Although Nifty closed near the intraday higher levels of the day after 164 points recovery from lower levels and with 30 points gains but:-
1- Most time intraday trading was in negative zone.
2- Whole day up moves were slow.
Therefore some intraday selling also can not be ruled out. As intraday good consolidation was seen one day before therefore expected that Nifty will firstly trade within last 2 sessions trading range(19258-19482) and prepare for next decisive moves beyond this range. Finally sustaining beyond this range will confirm next decisive moves beginning hence should be firstly watched for its confirmations amid firstly sideways trading expectations within this range.