Firstly watch today lowest for up
moves beginning confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(21-09-2023)
Nifty-Intra Day Chart (20-Sep-2023):-
Technical Patterns formation in today intraday charts
1- Selling between 19993-20050
2- Down moves with upward corrections
3- Down moves in Bullish Falling Channel
4- Support between 19879-19919
5- Whole day actual trading between 19879-20050
Conclusions from intra day chart analysis
Following lines were told on 16-09-2023 in "Finally Bullish moves above life time highest after Short term correction completion":-
A- firstly down moves are expected towards/below last Friday lowest(20129.70) in the beginning of next week
V- down moves will be seen towards following next supports in the beginning of next week:-
1- 20130-20154
2- 20044-20072
3- 19965-19990
4- 19918-19959
5- 19881-19912
C- after expected Short term correction completion in the coming week/weeks.
As was told 3 times on 16-09-2023 100% same happened and
1- Nifty slipped 311 points in first 2 sessions of this week.
2- Today lowest was just below above mentioned 5th supports range(19881-19912) at 19878.85.
Although firstly up moves after 134 points gap down opening but selling was seen 19993-20050 which remained continued through Down moves with upward corrections which will be understood follow up selling after higher levels selling.
As down moves after 12:30 PM were were in Bullish Falling Channel and lower levels supports were also seen therefore some up moves can not be ruled out towards today highest. Firstly sustaining beyond today lowest should also be watched tomorrow for these up moves beginning confirmations.