19492-19636 will confirm next
decisve moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(07-09-2023)
Nifty-Intra Day Chart (06-Sep-2023):-
Technical Patterns formation in today intraday charts
1- Down moves with upward corrections
1- Consolidation between 19492-19524
3- Sharp up in last half hour
4- Whole day actual trading between 19492-19636
Conclusions from intra day chart analysis
As selling begun after flat opening therefore down moves started which were with upward corrections therefore it will be understood that selling remained continued alomost first 4 hours and Nifty traded 82 points down also.
Lower levels good consolidation developed after more than 3 hours down moves therefore more than 100 points sharp jumo was seen in last half hour and Nifty closed after 36 points gains. Although today closing was near the higher levels of the day but higher levels selling was also seeen despite lower levels consolidation therefore Nifty will firstly trade within and near about today trading range and finally sustaining beyond today trading range will confirm next decisve moves beginning.