Nifty-Intra Day Chart (15-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Lower levels supports immediately after opening
2- Slow without force up moves
1- Selling between 8052-8060
3- Whole day actual trading between 8031-8064
Following line was told on 14-09-2014 in "Bearish Pattern Formations in last 9 Sessions Intraday Charts":-
Nifty hovered around 8052 whole day while most time trading between 8031-8064 and also selling was seen just above it between 8052-8060 today. As Nifty closed below 8052 after follow up selling just above it today therefore almost breaking down confirmation of Bearish Hear and Shoulders pattern's Neckline(8052) and resultant on going correction continuation is expected with possibility of deeper correction.
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1- Lower levels supports immediately after opening
2- Slow without force up moves
1- Selling between 8052-8060
3- Whole day actual trading between 8031-8064
Conclusions from intra day chart analysis
Following line was told on 14-09-2014 in "Bearish Pattern Formations in last 9 Sessions Intraday Charts":-
As Hear and Shoulders like Bearish formations in last 9 sessions with neckline at 8052 therefore once sustaining below 8052 will mean much deeper correction.
Nifty hovered around 8052 whole day while most time trading between 8031-8064 and also selling was seen just above it between 8052-8060 today. As Nifty closed below 8052 after follow up selling just above it today therefore almost breaking down confirmation of Bearish Hear and Shoulders pattern's Neckline(8052) and resultant on going correction continuation is expected with possibility of deeper correction.