Rally after little deeper correction
Nifty-Intra Day Chart Analysis &
Market Outlook(01-09-2021)
Nifty-Intra Day Chart (31-Aug-2021):-
Technical Patterns formation in today intraday charts
1- Short Term sideways correction and consolidation between 16916-16994
2- Last 4 hours moves with downward corrections
3- Whole day actual trading between 16916-17153
Conclusions from intra day chart analysis
As firstly consolidation after Short Term sideways correction therefore rally continuation till last minutes and closing at the top of the day.
Only consolidation and no intraday selling patterns formations today therefore rally will remain continued. As sentiment has tuned too much heated therefore intraday and Short Term correction may be little deeper than today and towards following supports:-
1- 17042-17067
2- 16916-16994
3- 16849-16876