Watch today highest amid firstly
up moves expectations
Nifty-Intra Day Chart Analysis & Market
Outlook(20-09-2024)
Nifty-Intra Day Chart (19-Sep-2024):-
Technical Patterns formation in today intraday charts
1- Up moves after strong opening
2- 216 Points down in first 3 hours
3- More than 3 hours consolidation between 25377-25466
4- Whole day actual trading between 25377-25611
Conclusions from intra day chart analysis
As FOMC announcements led stronger Global cues today morning therefore firstly up moves after strong opening and new life time top formations also but good intraday selling was seen in previous sessions therefore not sustaining at higher levels and Nifty slipped 216 points in first 3 hours. Lower levels more than 3 hours consolidation was also seen therefore:-
1- Firstly up moves are expected towards today highest
2- Sustaining beyond today highest should also be watched for next decisive moves beginning confirmations.
3- Until Nifty will not sustain below today lowest after complete intraday selling till then decisive down moves will not be seen.