Nifty-Intra Day Chart (09-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Almost 5 hours consolidation between 6706-6732
3- Whole day actual trading between 6706-6808
Firstly almost 5 hours consolidation between 6706-6732 and after that 70 points strong rally and new all time highest formation at 6808.70 but when Nifty was trading at 6720.20 then following line was told today at 01:15 PM in Mid-session Outlook(09-04-2014);-
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1- Almost 5 hours consolidation between 6706-6732
3- Whole day actual trading between 6706-6808
Conclusions from intra day chart analysis
Firstly almost 5 hours consolidation between 6706-6732 and after that 70 points strong rally and new all time highest formation at 6808.70 but when Nifty was trading at 6720.20 then following line was told today at 01:15 PM in Mid-session Outlook(09-04-2014);-
As consolidation patterns formations today and in previous session also therefore expectations are alive for rally continuation above 6776 in the coming sessions.
All trends are up but very Short Tern correction was due which was seen through last 6 Sessions sideways trading between 6651-6776 and this range forcefully broken out after almost 5 hours good consolidations therefore rally continuation is expected in the coming sessions.