Nifty-Intra Day Chart (Mar 04 & Mar 05,2014):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Consolidation between 6223-6246 on 04-03-2014
2- Up moves but without force on 04-03-2014
3- Bearish Rising Wedge formations in last 2 hours on 04-03-2014
4- Selling between 6312-6324 on 05-03-2014
5- Consolidation between 6290-6302 on 05-03-2014
6- Selling between 6318-6335 on 05-03-2014
Higher levels good selling yesterday and today also follow up selling seen in more than 3 hours therefore emergence of down moves possibilities below 6270 in the coming sessions despite some lower levels consolidations in last 2 sessions and today closing near the higher levels of the day.
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1- Consolidation between 6223-6246 on 04-03-2014
2- Up moves but without force on 04-03-2014
3- Bearish Rising Wedge formations in last 2 hours on 04-03-2014
4- Selling between 6312-6324 on 05-03-2014
5- Consolidation between 6290-6302 on 05-03-2014
6- Selling between 6318-6335 on 05-03-2014
Conclusions from 2 Sessions intra day chart analysis
Higher levels good selling yesterday and today also follow up selling seen in more than 3 hours therefore emergence of down moves possibilities below 6270 in the coming sessions despite some lower levels consolidations in last 2 sessions and today closing near the higher levels of the day.