Strong supports will confirm
next Short Term moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(03-08-2023)
Nifty-Intra Day Chart (02-Aug-2023):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
2- Selling between 19518-19556
3- Volatility in more than last 2 hours between 19424-19544
4- Whole day actual trading between 19424-19678
Conclusions from intra day chart analysis
Live Proofs of our 100% accurate analysis and Levels
1- Following lines were told yesterday in "Down moves expectations below today lowest":-
whole day intraday selling patterns developed today therefore down moves are expected below today lowest(19705) in the coming sessions
2- Following strong supports were posted on 29-07-2023 in "Firstly watch next strong resistance amid up moves expectations":-
19434-19519(Strong supports)
As was told 100% same happened and:-
1- Nifty opened gap down below below yesterday lowest at 19655.40 today and traded whole day below it as well as closed 207 points down today.
2- Nifty honoured strong supports today and:-
A- Nifty traded more than last 2 kours within and near about strong supports.
B- Nifty could not sustain below strong supports and recovered sharply after forming bottom only 10.45 points below it at 19423.55 today.
3- Nifty closed just above the top of strong supports at 19526.55 today.
As whole day good intraday selling yesterday therefore firstly gap down opening was seen today and after that fresh selling through Down moves with upward corrections and sideways trading range selling therefore sharp fall developed and once Nifty traded 254 points down also.
Last more than 2 hours 220 points volatility within and near about strong supports(19434-19519) between 19424-19544 today therefore expected that Nifty will firstly trade and prepare for next Short Term moves beginning within and near about this range as well as finally sustaining beyond this range will confirm it hence should be watched in the coning sessions.