Nifty-Intra Day Chart (25-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019
21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.
US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.
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1- Down moves in Bullish Falling Channel
2- Minor selling
3- Whole day actual trading between 7878-8019
Conclusions from intra day chart analysis
21 Sessions side ways market between 7918-8170 and yesterday closing just below it but as such big selling patterns were not seen in last 3 sessions and on the other hand consolidation patterns were also seen therefore correction completion possibility near about yesterday lowest(7877) and until Nifty will not sustain below 21 previous sessions lowest(7918) till then big fall will not be seen.
US markets are trading now more than 1.45 down after huge fall in European markets therefore sentiment may be subdued today morning and most likely all the Asian markets may trade will huge fall and resultant Indian markets may open also in Deep Red today. Sustaining below 7918 will confirm next big trend within next 2/3 sessions and should be watched now.