Watch next Supports amid firstly
down moves expectations
Nifty-Intra Day Chart Analysis &
Market Outlook(18-07-2024)
Nifty-Intra Day Chart (16-Jul-2024):-
Technical Patterns formation in today intraday charts
1- More than 50 points up moves after positive opening
2- Selling between 24643-24661
3- Volatility in last hour between 24588-34647
4- Whole day actual trading between 24588-24661
Conclusions from intra day chart analysis
Although firstly up moves after positive opening but higher levels selling developed in Mid-session therefore down moves were seen till last hour. As Volatility in last hour between 24588-34647 and some times technical positions reverses also during such Volatility therefore expected that Nifty will firstly trade within this Volatility range in the coming session. Firstly down moves are also expected below last Tuesday lowest(24588) because higher levels selling was seen and finally sustaining beyond next supports(24539-24564) should be watched for next decisive moves beginning confirmations amid firstly down moves expectations.