Nifty-Intra Day Chart (29-Oct-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8053-8069
2- Minor selling at higher levels in last half hour
2- Whole day actual trading between 8053-8097
Although good consolidation at lower levels and closing near the higher levels of the day but selling patterns formations were also in last half hour therefore firstly consolidation is required for fresh rally because follow resistances above today highest:-
1- 8115-8160
2- 8140-8180
As lower levels good consolidations and all trends are up therefore rally continuation is expected after follow up consolidations.
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1- Consolidation between 8053-8069
2- Minor selling at higher levels in last half hour
2- Whole day actual trading between 8053-8097
Conclusions from intra day chart analysis
Although good consolidation at lower levels and closing near the higher levels of the day but selling patterns formations were also in last half hour therefore firstly consolidation is required for fresh rally because follow resistances above today highest:-
1- 8115-8160
2- 8140-8180
As lower levels good consolidations and all trends are up therefore rally continuation is expected after follow up consolidations.