Finally down moves expectations
towards next supports
Nifty-Intra Day Chart Analysis &
Market Outlook(09-02-2024)
Nifty-Intra Day Chart (08-Feb-2024):-
Technical Patterns formation in today intraday charts
1- Selling between 21947-22011
2- Sharp falls
3- Selling between 21716-21818
4- Minor supports at lower levels in last hour between 21666-21716
5- Whole day actual trading between 21666-22011
Conclusions from intra day chart analysis
Although positive opening but selling developed therefore sharp falls were seen. As more than 3 hours follow up selling in Mid-session also therefore some down moves were seen in last hours also.
Minor supports at lower levels in last hour between 21666-21716 and Nifty closed within yesterday mentioned immediate supports range(21681-21736) at 21717.95 also today therefore expected that Nifty will firstly trade between 21666-21736 tomorrow. As higher levels good intraday selling was seen today therefore finally down moves are expected towards next supports(21470-21563) and sustaining it beyond should also be watched for next decisive moves beginning confirmations.