Upward moves expectations after US Senate that development which decreased Middle East war escalation chances
Nifty-Intra Day Chart Analysis &
Market Outlook(21-05-2026)
Nifty-Intra Day Chart (20-May-2026):-
Technical Patterns formation in today intraday charts
1- Upward moves with downward corrections
2- Whole day trading between 23398-23690
Conclusions from intra day chart analysis
As all around this news was floating today morning that US may attack Iran any time therefore Nifty traded 220 points down in first minute after 160 points weaker opening. Although such weaker opening but this news would have been in the knowledge of well informed sources that US Senate will advance resolution to curb Trump’s power to wage war on Iran therefore upward moves started with downward corrections and these upward moves remained continued till last minutes after the news of US Senate passing measures for limiting Trump's war powers in Iran.
It seems that Middle East war escalation chances has decreased after this US Senate development today therefore upward moves are expected towards following next resistances in the coming session:-
1- 23771-23839
2- 23924-23997