Firstly watch 19327-19381 & sustaining above 19381 will mean strong Pull Back rally beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(18-08-2023)
Nifty-Intra Day Chart (17-Aug-2023):-
Technical Patterns formation in today intraday charts
1- 86 Points down in first hour after weak opening
2- Selling between 19394-19415
3- Sharp fall
4- More than 4 hours sideways trading between 19327-19381
5- Whole day actual trading between 19327-19461
Conclusions from intra day chart analysis
As firstly 86 points down moves in first hour and after that follow up selling therefore sharp fall was seen after 11:00 PM. Although 99 points negative closing today but lower levels more than 4 hours sideways trading was seen between 19327-19381 therefore firstly sustaining beyond this range should be watched tomorrow. As some consolidation patterns were also seen between last 4 hours sideways trading therefore sustaining above 19381 will mean strong Pull Back rally beginning.