Nifty-Intra Day Chart (28-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 6750-6765
2- Multiple 6 supports at lower levels.
3- Higher levels selling.
4- Whole day actual trading between 6750-6786
Whole day 36 points range bound negative zone trading between 6750-6786 with lower levels good consolidation and multiple supports but minor selling was also seen at higher levels therefore valid break out of today trading range will be next immediate moves confirmation. As today intraday trading patterns are showing good consolidation patterns therefore high possibility of decisive up moves above today highest(6786.25) despite today closing near the lower of the day.
 |
| Just click on chart for its enlarged view |
1- Consolidation between 6750-6765
2- Multiple 6 supports at lower levels.
3- Higher levels selling.
4- Whole day actual trading between 6750-6786
Conclusions from intra day chart analysis
Whole day 36 points range bound negative zone trading between 6750-6786 with lower levels good consolidation and multiple supports but minor selling was also seen at higher levels therefore valid break out of today trading range will be next immediate moves confirmation. As today intraday trading patterns are showing good consolidation patterns therefore high possibility of decisive up moves above today highest(6786.25) despite today closing near the lower of the day.