Watch immediate resistances for
next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(10-08-2023)
Nifty-Intra Day Chart (09-Aug-2023):-
Technical Patterns formation in today intraday charts
1- 110 Points down moves after flat opening in first hour
2- More than 4 hours consolidation between 19468-19526(immediate supports)
3- 122 Points sharp up in last hour
4- Whole day actual trading between 19468-19645
Conclusions from intra day chart analysis
As good intraday selling yesterday therefore down moves were expected below yesterday lowest(19534) and down moves were seen also in first hour today through 110 Points fall towards today lowest(19467.50) after flat opening.
Although weakness in first hour but lower levels more than 4 hours consolidation therefore 122 points sharp up moves were seen in last hour. As immediate resistances are strong between 19567-19618 therefore firstly sustaining beyond it should be firstly watched tomorrow for:-
1- Above 19618 will mean next up moves towards next resistances(19642-19707).
2- Below 19567 will mean next down moves towards next supports(19468-19526).