Watch next resistances amid
up moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(16-08-2023)
Nifty-Intra Day Chart (14-Aug-2023):-
Technical Patterns formation in today intraday charts
1- 171 Points down in first 20 minutes
2- Whole day up moves with downward corrections
3- Whole day actual trading between 19258-19465
Conclusions from intra day chart analysis
Although firstly 171 points down in first 20 minutes after weaker opening but up moves started from lower levels which remained continued till last hour. As whole day up moves were with downward corrections therefore firstly up moves are expected towards following next resistances;-
A- 19485-19504
B- 19538-19623(Strong resistance)
Firstly sustaining beyond above mentioned next resistances should be watched in the coming sessions for next decisive up moves beginning confirmations because resistance between 19538-19623 are strong and failing to sustain above 19623 will mean correction continuation below last Monday lowest(19258).