Firstly watch 19481-19588 amid
high Geo-Political tension
Nifty-Intra Day Chart Analysis &
Market Outlook(10-10-2023)
Nifty-Intra Day Chart (09-Oct-2023):-
Technical Patterns formation in today intraday charts
1- 172 Points down in first 15 minutes after gap down opening
2- More than 100 points sharp up
3- Selling between 19556-19586
4- Consolidation between 19496-19536
5- Whole day actual trading between 19481-19588
Conclusions from intra day chart analysis
As Geo-Political tension mounted after Hamas terrorist attack on Israel on 07-10-2023 therefore firstly Nifty crashed 172 in first 15 minutes after gap down opening. Although more than 100 points sharp up from lower levels but higher levels selling developed therefore down moves were seen in Mid-session.
Consolidation was also between 19496-19536 in last 3 hours therefore it will be understood that Mixed patterns were formed in whole day trading and firstly Nifty will have to trade and prepare for next decisive moves within and near day's trading range. As finally sustaining beyond 19481-19588 will confirm next decisive moves beginning therefore it should be firstly watched amid high Geo-Political tension.