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Firstly Watch Valid Break out Most Crucial Range
Intra Day Chart Analysis & Market Outlook
(01-10-2015)
Nifty-Intra Day Chart (30-Sep-2015):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Consolidation Patterns between 7875-7898
2- 5 Waves of Bearish Rising Wedge formation in last hour. 
3- Whole day actual trading between 7875-7957

Conclusions from intra day chart analysis 

As Dow's Futures was trading 100 points up at the opening time of all Indian markets and most Asian markets were also trading in Green therefore 80 points up opening of Indian markets and after that 4 hours consolidation between 7875-7898 as well as slow up moves in last 2 hours.

Previous 26 sessions trading between 7540-8092 and next 3 resistances of this range are as follows:-

1- 7995-8010
2- 8032-8055
3- 8068-8090

Bearish Rising Wedge formation in last hour today and Short Term indicators have turned overbought after last 2 sessions strong rally as well as above mentioned 3 resistances are also lying above today highest and fresh consolidation is still required for next decisive up moves therefore Nifty will trade between 7824-8090 in the coming 1/2 sessions

Certainly coming 1/2 sessions will be most crucial because follow up consolidation is must to cross and sustain above mentioned resistances. If it happens then trend reversal will be considered but confirmation will be after sustaining above 26 sessions trading range highest(8092).

As complete selling is also required for fresh down moves and it has not developed yet therefore some more up moves are still expected between 7824-8090 but volatility may remain high within this range and next trend beyond this range will be as follows:-

1- Valid break out above 8090 will mean trend reversal confirmation resultant fresh rally after previous 4000 points rally(5118-9119) correction completion. 
2- Valid break down below 7824 will mean first signal of correction beginning towards 7104/6761 and correction continuation confirmation will be below today lowest(7875)

As 7824-8090 has developed most crucial therefore firstly its Valid break out should be watched for next trend first signal/confirmations.