Next Rally after fresh consolidation
Nifty-Intra Day Chart Analysis &
Market Outlook(02-09-2025)
Nifty-Intra Day Chart (01-Sep-2025):-
Technical Patterns formation in today intraday charts
1- 86 Points up in first minute after positive opening
2- More than 3 hours consolidation between 24506-24557
3- Up moves with downward corrections
4- Whole day trading between 24433-24635
Conclusions from intra day chart analysis
Following lines were told in previous Outlook at 01:06 PM on 30-08-2025 in "Watch next resistances amid firstly Upward moves expectations":-
upward moves are expected towards last Friday
highest(24572.45) in the beginning of next week.
As was told 100% same happened and
Nifty closed today at 24625.05 after
gaining 198.20 points.
Although Nifty closed near the lower levels of the day last Friday but more than last 2 hours downward moves were in Bullish Falling Channel which is a consolidation pattern and this pattern was seen in first hour also last Friday therefore firstly 86 Points upward moves were seen in first minute after positive opening today.
As more than 3 hours consolidation between 24506-24557 and after that Up moves with downward corrections which is also a consolidation pattern therefore finally upward moves are expected after some intraday corrections because due to following reasons fresh consolidations is required near about today highest for next decisive upward moves beginning because-
1- Next resistances are between 24648-24684 which is just above today highest.
2- Very Short Term indicators have turned Over bought after today strong intraday rally.