Nifty-Intra Day Chart (01-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6698-6715
3- Whole day actual trading between 6676-6732
As higher levels good selling with Hanging Man / Dragonfly Doji Candle(Daily) formation today therefore emergence of Very short term correction possibility because higher levels good selling was seen yesterday also. US markets are .55% to 1.50% up at this moment today and such strong Asian markets may result positive opening of Indian markets tomorrow but sustaining above the last 2 sessions highest(6732) should be watched tomorrow because good selling seen in last 2 sessions. Some lower levels supports also seen yesterday therefore sustaining below yesterday lowest(6663) will be little deeper down moves.
As Bull markets correct and consolidate at higher levels also therefore finally valid break out of 6663-6732 should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6732
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1- Selling between 6698-6715
3- Whole day actual trading between 6676-6732
Conclusions from intra day chart analysis
As higher levels good selling with Hanging Man / Dragonfly Doji Candle(Daily) formation today therefore emergence of Very short term correction possibility because higher levels good selling was seen yesterday also. US markets are .55% to 1.50% up at this moment today and such strong Asian markets may result positive opening of Indian markets tomorrow but sustaining above the last 2 sessions highest(6732) should be watched tomorrow because good selling seen in last 2 sessions. Some lower levels supports also seen yesterday therefore sustaining below yesterday lowest(6663) will be little deeper down moves.
As Bull markets correct and consolidate at higher levels also therefore finally valid break out of 6663-6732 should be watched tomorrow for:-
1- Very short term correction below 6663 or
2- Rally continuation above 6732