Down moves expectations below
day's lowest
Nifty-Intra Day Chart Analysis & Market
Outlook(04-10-2023)
Nifty-Intra Day Chart (03-Oct-2023):-
Technical Patterns formation in today intraday charts
1- 104 Points down in first 3 minutes after flat opening
2- Whole day sideways trading with selling Patterns formation between 19480-19564
3- Whole day actual trading between 19480-19623
Conclusions from intra day chart analysis
At the time of Indian markets opening most Asian markets were trading in negative zone and some were deeply down in following manner
Nikkei 225- was trading 537.50 points and 1.69% down.
Hang Seng- was trading 617.66 points and 3.47% down.
SET- was trading 19.89 points and 1.35% down.
As sentiment turned dampened due to crashing like situation in Asian markets therefore Nifty has fallen 104 Points in first 3 minutes after flat opening. After that whole day sideways trading with selling Patterns formation between 19480-19564 therefore down moves are expected below day's lowest(19480) in the coming sessions.