Nifty-Intra Day Chart (02-Jun-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day up moves.
2- Last 3 hours up moves in Bearish Rising Channel.
3- Whole day actual trading between 7239-7368.
Whole day up moves after flat opening but last 3 hours up moves in Bearish Rising Channel also therefore follow up consolidation is firstly required tomorrow because next immediate resistances are just above today trading range:-
1- Resistances between 7358-7432
2- Resistances between 7450-7563
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1- Whole day up moves.
2- Last 3 hours up moves in Bearish Rising Channel.
3- Whole day actual trading between 7239-7368.
Conclusions from intra day chart analysis
Whole day up moves after flat opening but last 3 hours up moves in Bearish Rising Channel also therefore follow up consolidation is firstly required tomorrow because next immediate resistances are just above today trading range:-
1- Resistances between 7358-7432
2- Resistances between 7450-7563
At present Indian markets will be understood side ways between 7082-7563 and Outlook will remain Bullish because strong recovery seen today after 4 previous sessions consolidation patterns formation which is a strong signal of 14 sessions correction completion.