Nifty-Intra Day Chart (03-Jan-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6004-6012
2- Up moves in Rising Channel which is Bearish Pattern.
2- Support between 5995-5998
3- Whole day actual trading between 5986-6014
Some supports at lower levels and selling at higher levels with intraday Up moves in Rising Channel which is Bearish Pattern therefore possibility of very short term down moves because intraday selling was seen also yesterday within today trading range.
Last 2 sessions trading between 5982-6017 with lower levels supports and higher levels selling therefore valid break out of this range will decide next very Short Term Trend.
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1- Selling between 6004-6012
2- Up moves in Rising Channel which is Bearish Pattern.
2- Support between 5995-5998
3- Whole day actual trading between 5986-6014
Conclusions from intra day chart analysis
Some supports at lower levels and selling at higher levels with intraday Up moves in Rising Channel which is Bearish Pattern therefore possibility of very short term down moves because intraday selling was seen also yesterday within today trading range.
Last 2 sessions trading between 5982-6017 with lower levels supports and higher levels selling therefore valid break out of this range will decide next very Short Term Trend.