Today, on 21st February 2023 Nifty Index shows so much volatility. All the trading sessions impact the intraday trader because of so much volatility after a long time.  At the Nifty start-up index @ 17900 area and 30 minutes later it came down to the 17850 zone. After a prolonged accumulation phase, it peaked on the high side from the bottom at nearly the 17922+ area, showing a positive side for all long traders. After a few minutes later Nifty showed some weakness and hit the lower low. Near 12:30 pm it hit the day’s down for that time. At 2:00 pm Nifty index again hit the 17890+ area and some relief from the bottom. This time also the main Index cannot hold the top line and slips near to 17820 zone.

Nifty Index Technical Performance – 1 minute chart time frame

On the basis of the 1-minute chart, we can see some terrific charts shown below. Any of intraday trader can get easy profits if he/ she trades on the Nifty future index. Most of the day index goes too much volatility which is good for any intraday trader. But also this is the point of trapping for some scalping traders. The below chart is a reference to the Nifty Index. Chart time frame 1 minute.

This chart is still 3:00 pm. It’s taking support near the 17810 area again.

Nifty Index Technical Performance – 3-minute chart time frame

This time we are going to compare the chart from the last few day’s data. Check out the chart first posted below.

In this chart, we can see a long negative trade going on and it’s taking a higher resistance again and again. At that multiple resistance area Index rejects the top line and going the bottom.

The next picture is used on a 30 minute time frame chart and shows some sideways market. Here we are using the CCI indicator for better understanding the market trend. Market trend and price action showing negative as per Chart which is posted below. Adding the CCI indicator the trend showing positive against the price action trend. Here we can predict an uptrend from this zone. It’s called CCI POSITIVE divergence. On this 30 minutes time frame chart this most important thing is that the next 4 to 5 candles can be some relief from this negative trend. For this confirmation we also need to check the long time frame for better understanding.

The nifty index chart below is on the time frame of 60 minutes. This is mostly used for longtime predictions. This can be BTST or STBT view. In this chart, the same pattern and confirmation show like a 30 minute chart. We cannot predict any level at this time. Because a lot of volatility shows on the Nifty index. So, my personal projection is that some healthy recovery will be seen on this index very soon.

The trend is negative and we found some positive lines. Let’s see the scenario.