Watch next strong resistance range amid rally continuation expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(01-08-2023)
Nifty-Intra Day Chart (31-Jul-2023):-
Technical Patterns formation in today intraday charts
1- More than 2 hours up moves after positive opening
2- More than 3 hours consolidation between 19679-19721
3- Sharp up in last hour
4- Whole day actual trading between 19598-19772
Conclusions from intra day chart analysis
As firstly more than 2 hours up moves after positive opening and after that more than 3 hours consolidation therefore sharp up moves were seen in last hour. Only intraday consolidation and selling patterns were not seen therefore on going rally continuation is expected towards next strong resistance range(19793-19825) and finally sustaining it beyond will confirm next decisive moves beginning hence it should also be watched in the coming sessions for confirmations.