Watch levels after high intraday volatility
Nifty-Intra Day Chart Analysis &
Market Outlook(30-08-2024)
Nifty-Intra Day Chart (29-Aug-2024):-
Technical Patterns formation in today intraday charts
1- Up moves after negative opening
2- Consolidation between 25091-25116
3- Sharp up
4- Selling between 25138-25171
5- Sharp fall
6- Consolidation between 25014-25041
7- Sharp up
8- Selling between 25130-25192
9- Whole day actual trading between 24999-25192
Conclusions from intra day chart analysis
As good intraday selling in previous sessions therefore Nifty could not sustain at higher levels after initial up moves and sharp fall was also seen in Mid-session with new intraday lowest formations. Whole day trading was highly volatile with lower levels consolidation and higher levels selling as well as sharp upward moves and sharp fall were also seen. As technical positions reverse also during today like high volatility therefore next decisive moves will be finally decided through sustaining beyond today trading range which should be firstly watched for next decisive moves beginning confirmations.