Sideways between 16849-17225
for next decisive moves preparation
Nifty-Intra Day Chart Analysis &
Market Outlook(02-09-2021)
Nifty-Intra Day Chart (01-Sep-2021):-
Technical Patterns formation in today intraday charts
1- Selling between 17171-17225 (immediate Resistances)
2- Selling between 17097-17144 (immediate Resistances)
3- Whole day actual trading between 17056-17225
Conclusions from intra day chart analysis
Following conclusive lines were told yesterday in "Rally after little deeper correction":-
Short Term correction may be little deeper than today and towards following supports:-
1- 17042-17067
2- 16916-16994
3- 16849-16876
As was told 100% same happened and correction remain continued upto yesterday mentioned 1st supports range(17042-17067) with today lowest within it at 17,055.05 and today closing just above it at 17076.25.
As lower levels above mentioned supports and fresh resistances developed within above mentioned 2 selling ranges today therefore Nifty will remain sideways between 16849-17225 in the coming sessions and prepare for next decisive moves.
Let fresh intraday technical patterns develop then Outlook will formed accordingly and till then Nifty will roll between above mentioned supports and resistances.