Nifty-Intra Day Chart (19-May-2014):-
Technical Patterns and Formations in today intraday charts
1- Support between 7193-7229
2- Mixed Patterns between 7246-7287 in last 3 hours.
3- Whole day actual trading between 7193-7287
Although firstly slipping from higher levels but recovery after lower levels supports and last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves. . As lower levels supports seen today therefore first signal of correction completion and once sustaining above today highest(7287) will mean rally continuation towards 7563 after last Friday started very Short Term correction completion.
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1- Support between 7193-7229
2- Mixed Patterns between 7246-7287 in last 3 hours.
3- Whole day actual trading between 7193-7287
Conclusions from intra day chart analysis
Although firstly slipping from higher levels but recovery after lower levels supports and last 3 hours trading with Mixed Patterns between 7246-7287 therefore absence of clear trading positions and more preparations are required for next decisive moves. . As lower levels supports seen today therefore first signal of correction completion and once sustaining above today highest(7287) will mean rally continuation towards 7563 after last Friday started very Short Term correction completion.