Finally 19785-19849 will confirm
next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(18-10-2023)
Nifty-Intra Day Chart (17-Oct-2023):-
Technical Patterns formation in today intraday charts
1- Up moves in Bearish Rising Channel
2- Sharp fall
3- Supports between 19785-19798
4- Whole day actual trading between 19776-19849
Conclusions from intra day chart analysis
As all the Asian markets were trading in Green therefore sentiment turned BUllish and resultant gap up strong opening was seen in Indain markets. Although up moves were seen after that but were in Bearish Rising Channel therefore sharp fall developed in Mid sessions. As lower levels supports was also seen after 02;15 PM therefore both lower levels supports and higher levels selling will be understood between 19785-19849 and Nifty will firstly trade as well as prepare for next decisive moves beginning within trhis range,finally sustaining it beyond should be watched in the coming sessions for its beginning confirmation..