Rally continuation with some selling possibility at intraday higher levels
Nifty-Intra Day Chart Analysis &
Market Outlook(03-09-2021)
Nifty-Intra Day Chart (02-Sep-2021):-
Technical Patterns formation in today intraday charts
1- Whole day up moves with downward corrections
2- Whole day actual trading between 17060-17245
Conclusions from intra day chart analysis
As good intraday selling yesterday therefore consolidation was required for decisive up moves and it was done through continuous whole day up moves with downward corrections and closing was at life time highest after new life time top formation.
No intraday selling pattern formation today as well as no resistance above today highest also therefore rally will remain continued. Let intraday selling patterns develop then correction will be considered on daily basis according to size and periods of selling patterns formations.
As sentiment turned heated after today strong rally therefore some selling may be seen at intraday higher levels and volatility will also remain high tomorrow.