Nifty-Intra Day Chart (14-Oct-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7826-7856
2- Up moves in Broadening pattern with intraday correction
3- Whole day actual trading between 7826-7928
Short Term Correction continuation from 08-09-2014 with last 12 Sessions sideways trading between 7796-8030. As lower levels good supports and higher levels good selling also therefore expected that Nifty will trade and prepare for next trend within and near about this range in the coming sessions and valid break out of this range will decide next big moves
As up moves in Broadening pattern with intraday correction after lower levels consolidation on 14-10-2014 therefore emergence of up moves indications towards 8030 in the coming sessions.
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1- Consolidation between 7826-7856
2- Up moves in Broadening pattern with intraday correction
3- Whole day actual trading between 7826-7928
Conclusions from intra day chart analysis
Short Term Correction continuation from 08-09-2014 with last 12 Sessions sideways trading between 7796-8030. As lower levels good supports and higher levels good selling also therefore expected that Nifty will trade and prepare for next trend within and near about this range in the coming sessions and valid break out of this range will decide next big moves
As up moves in Broadening pattern with intraday correction after lower levels consolidation on 14-10-2014 therefore emergence of up moves indications towards 8030 in the coming sessions.