Finally sustaining beyond 19628-19875 will confirm next decisive moves beginning
Nifty-Intra Day Chart Analysis &
Market Outlook(17-11-2023)
Nifty-Intra Day Chart (16-Nov-2023):-
Technical Patterns formation in today intraday charts
1- Consolidation between 19628-19646
2- Sharp up
3- Consolidation between 19709-19720
4- Sharp up
5- Mixed Patterns formation between 19783-19816
6- Up moves in Bearish Rising Channel
7- 151 Points sharp fall in last hour
8- Whole day actual trading between 19628-19875
Conclusions from intra day chart analysis
Although firstly some down moves after flat opening but after that consolidation develop at lower levels therefore sharp up moves were seen from lower levels. As follow up consolidation therefore again sharp up moves were seen after 11:00 AM.
As 3 hours trading with Mixed Patterns formations in Mid-session and after that Up moves in Bearish Rising Channel therefore 151 Points sharp fall was seen in last hour.
Both lower levels consolidation and higher levels selling between 19628-19875 today therefore Nifty will firstly trade and prepare for next Short Term moves within today trading range and finally sustaining beyond today trading range will confirm next Short Term decisive moves beginning hence it should be firstly watched in the coming session.