Nifty-Intra Day Chart (02-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6738-6751
2- Minor consolidation between 6724-5733
2- Upmoves in Bearish Rising Channel.
3- Whole day actual trading between 6724-6763
All trends are up and Indian markets are so highly Bullish that not stopping and not giving any correction despite good selling patterns formations in last 3 sessions. Although last hour up moves in Bearish Rising Channel but minor consolidation also seen above the highest of last 2 sessions therefore of further rally continuation possibility also.
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1- Selling between 6738-6751
2- Minor consolidation between 6724-5733
2- Upmoves in Bearish Rising Channel.
3- Whole day actual trading between 6724-6763
Conclusions from intra day chart analysis
All trends are up and Indian markets are so highly Bullish that not stopping and not giving any correction despite good selling patterns formations in last 3 sessions. Although last hour up moves in Bearish Rising Channel but minor consolidation also seen above the highest of last 2 sessions therefore of further rally continuation possibility also.
As both selling and consolidations seen in last 3 sessions therefore view is cautious and follow up moves with sustaining above today highest will also be firstly watched tomorrow for immediate up moves confirmations.