Resistance range will confirm
next intraday moves
Nifty-Intra Day Chart Analysis &
Market Outlook(09-09-2022)
Nifty-Intra Day Chart (08-Sep-2022):-
Technical Patterns formation in today intraday charts
1- Down moves in Bullish Falling Channel
2- Up moves in Bearish Rising Channel
3- Whole day actual trading between 17692-17807
Conclusions from intra day chart analysis
As firstly Down moves in Bullish Falling Channel after stong opening therefore up moves started from intraday lower levels which remained continued till last hour. Up moves in last 3 hours were in Bearish Rising Channel and within next resistance range also between 17762-17834 therefore:-
1- Firstly fresh consolidation is required for intraday up moves above 17834.
and
2- Fresh selling within or near about 17762-17834 and sustaining below 17762 will mean intraday correction beginning.