Nifty-Intra Day Chart (01-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7622-7633
2- Minor selling signals between 7635-7644
3- Whole day actual trading between 7622-7649
Firstly 2 hours consolidations and after that next 3 hours minor selling signals within whole day 27 points trading between 7622-7649 therefore some more preparations are required for next decisive moves. As most time today trading between previous resistance range(7626-7673) therefore complete consolidation was required for next decisive up moves above 7673/7700 and its signals seen today but sustaining beyond 7564-7673 should be watched in the coming sessions for next trend confirmations.
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1- Consolidation between 7622-7633
2- Minor selling signals between 7635-7644
3- Whole day actual trading between 7622-7649
Conclusions from intra day chart analysis
Firstly 2 hours consolidations and after that next 3 hours minor selling signals within whole day 27 points trading between 7622-7649 therefore some more preparations are required for next decisive moves. As most time today trading between previous resistance range(7626-7673) therefore complete consolidation was required for next decisive up moves above 7673/7700 and its signals seen today but sustaining beyond 7564-7673 should be watched in the coming sessions for next trend confirmations.
As consolidation within last resistance range seen today therefore expected that finally rally will be seen above 7673/7700 after follow up consolidations in the coming sessions