Firstly watch today trading range for next Short Term trend confirmations
Nifty-Intra Day Chart Analysis &
Market Outlook(08-09-2021)
Nifty-Intra Day Chart (07-Sep-2021):-
Technical Patterns formation in today intraday charts
1- 114 Points fall in first hour
2- 149 Points recovery in Mid-session
3- 90 Points down in last 3 hours
4- Whole day actual trading between 17287-17436
Conclusions from intra day chart analysis
As intraday charts have shown some selling patterns yesterday therefore 114 points fall was seen in first hour and Nifty traded 90 points negative also but after that 149 points recovered in Mid-session.
Nifty could not sustain at higher levels and slipped 90 points in last 3 hours. As only intraday volatility was seen today and any particular big technical pattern could not develop as well as Nifty traded above and below yesterday highs and lows therefore next Short Term trend will get confirmation through sustaining beyond or forceful break out/down of today trading range(17287-17436) which should be firstly watched in the coming sessions.