Nifty-Intra Day Chart (11-Feb-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 6054-6065
2- 2 Hours long down moves in Bullish Falling Channel
3- Selling between 6068-6076
4- Whole day actual trading between 6054-6081
Although some selling but more than 2 hours down moves in Bullish Falling Channel which is consolidation patterns therefore emergence of rally continuation expectations above 6100 after crossing next resistance range(6086-6097).
As selling also seen therefore some down moves can not be ruled out but rally continuation hopes are alive after follow up consolidation despite today closing near the lower levels of the day.
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1- Consolidation between 6054-6065
2- 2 Hours long down moves in Bullish Falling Channel
3- Selling between 6068-6076
4- Whole day actual trading between 6054-6081
Conclusions from intra day chart analysis
Although some selling but more than 2 hours down moves in Bullish Falling Channel which is consolidation patterns therefore emergence of rally continuation expectations above 6100 after crossing next resistance range(6086-6097).
As selling also seen therefore some down moves can not be ruled out but rally continuation hopes are alive after follow up consolidation despite today closing near the lower levels of the day.