Nifty-Intra Day Chart (26-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.
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1- Consolidation between 7842-7910
2- Down moves in Bullish Falling Channel
3- Whole day actual trading between 7842-7993
Conclusions from intra day chart analysis
As good consolidation at lower levels with down moves in Bullish Falling Channel also therefore until Nifty will not sustain below day's lowest(7842) after complete selling till then next down trend will not be considered and fresh up moves are expected in the beginning of next week. It should be kept in mind that resistances at higher levels are not much strong and possibility of new high formations after correction completion at day's lowest(7842) has turned alive on 26-09-2014.