Nifty-Intra Day Chart (26-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8438-8457
2- Mixed Patterns between 84381-8500
3- Whole day actual trading between 8439-8500
Following line was told at 01:09 on 26-11-2014 in Mid-session Outlook(26-11-2014):-
As was told 100% same happened and Nifty traded at 8500.30 yesterday
As lower levels good consolidation and higher levels mixed patterns formations were seen therefore lower levels good supports and higher levels weaker resistances will be understood. Although Nifty slipped from higher levels after good recovery from lower levels but clear selling patterns were not seen at higher levels therefore up moves hopes are alive after follow up consolidations in the coming sessions.
Very Short Term correction is on and emergence of correction completion expectations also generated after lower levels consolidations yesterday. At present Nifty is sideways between 8439-8535 and will firstly trade/prepare within this range as well as valid break out of this range will result next big moves.
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1- Consolidation between 8438-8457
2- Mixed Patterns between 84381-8500
3- Whole day actual trading between 8439-8500
Conclusions from intra day chart analysis
Following line was told at 01:09 on 26-11-2014 in Mid-session Outlook(26-11-2014):-
As lower levels good consolidation today therefore high possibility of trading above 8500
As was told 100% same happened and Nifty traded at 8500.30 yesterday
As lower levels good consolidation and higher levels mixed patterns formations were seen therefore lower levels good supports and higher levels weaker resistances will be understood. Although Nifty slipped from higher levels after good recovery from lower levels but clear selling patterns were not seen at higher levels therefore up moves hopes are alive after follow up consolidations in the coming sessions.
Very Short Term correction is on and emergence of correction completion expectations also generated after lower levels consolidations yesterday. At present Nifty is sideways between 8439-8535 and will firstly trade/prepare within this range as well as valid break out of this range will result next big moves.