Nifty-Intra Day Chart (13-Jun-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5710-5729
2- Down moves in Bullish Falling Channel.
3- Buying between 5683-5698.
3- Whole day actual trading between 5683-5729
48 Points range bound sideways trading after gap down trading due to most depressing Global sentiments and again weakening of Indian Repee today. Firstly selling at higher levels but lower levels supports also with Down moves in Bullish Falling Channel therefore follow up moves within and nearabout today trading range and sustaining beyond today trading range will decide the fate of Long Term Trend because whole day trading below 200 Day EMA(5766) today.
As lower levels good consolidations and supports today therefore up moves above today highs(5729) are expected and testing of 200 Day EMA(5766) is very much possible tomorrow. Sustaining beyond 200 Day EMA(5766) will decide next trend and should be firstly watched in the coming sessions.
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1- Selling between 5710-5729
2- Down moves in Bullish Falling Channel.
3- Buying between 5683-5698.
3- Whole day actual trading between 5683-5729
Conclusions from intra day chart analysis
48 Points range bound sideways trading after gap down trading due to most depressing Global sentiments and again weakening of Indian Repee today. Firstly selling at higher levels but lower levels supports also with Down moves in Bullish Falling Channel therefore follow up moves within and nearabout today trading range and sustaining beyond today trading range will decide the fate of Long Term Trend because whole day trading below 200 Day EMA(5766) today.
As lower levels good consolidations and supports today therefore up moves above today highs(5729) are expected and testing of 200 Day EMA(5766) is very much possible tomorrow. Sustaining beyond 200 Day EMA(5766) will decide next trend and should be firstly watched in the coming sessions.