Nifty-Intra Day Chart (29-Sep-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.
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1- Selling patterns formations between 7975-7991
2- Whole day actual trading between 7935-7991
Conclusions from intra day chart analysis
Whole day sideways trading within 56 points and some recovery from lower levels in last half hour also but good selling at higher levels today therefore Nifty will be understood sideways within last 2 sessions range(7842-7993) because both selling and consolidation between 7842-7991 seen between these 2 ranges.
Expected that Nifty will firstly prepare for next trend within 7842-7993 in the coming sessions and valid break out of this range will be on going correction continuation/completion. As good selling today therefore firstly slipping towards above mentioned next support will be seen tomorrow.