Nifty-Intra Day Chart (02-Jan-2013):-
Technical Patterns and Formations in today intraday charts
1- Lower levels buying.
2- Higher levels selling.
3- Higher Bottoms(B1 to B4) formations.
4- Lower tops(T1 to T3) formations.
5- Last 3 hours down moves in Falling channel(Bullish Pattern)
5- Whole day actual trading between 5985-6006
21 Points whole day range bound trading between 5985-6006 after gap up opening. Although both lower levels buying and higher levels selling but last 3 hours down moves in Falling channel which is Bullish formation therefore indications of up moves continuation.
21 Sessions sideways trading range(5823-5965) broken out forcefully today and with this all trends turned up and impulsive Sub Wave-5 of Wave-3 continuation also therefore Bulls will rule Indian Stock Markets. As some intraday selling seen today therefore consolidation is required and that may also be firstly seen because Bullish markets consolidates at higher levels.
Global Party is on and Dow Jones made double century after European markets more than 2% positive closing. Such strong Asian markets tomorrow will mean again gap up opening and rally continuation after higher levels consolidations.
 |
| Just click on chart for its enlarged view |
1- Lower levels buying.
2- Higher levels selling.
3- Higher Bottoms(B1 to B4) formations.
4- Lower tops(T1 to T3) formations.
5- Last 3 hours down moves in Falling channel(Bullish Pattern)
5- Whole day actual trading between 5985-6006
Conclusions from intra day chart analysis
21 Points whole day range bound trading between 5985-6006 after gap up opening. Although both lower levels buying and higher levels selling but last 3 hours down moves in Falling channel which is Bullish formation therefore indications of up moves continuation.
21 Sessions sideways trading range(5823-5965) broken out forcefully today and with this all trends turned up and impulsive Sub Wave-5 of Wave-3 continuation also therefore Bulls will rule Indian Stock Markets. As some intraday selling seen today therefore consolidation is required and that may also be firstly seen because Bullish markets consolidates at higher levels.
Global Party is on and Dow Jones made double century after European markets more than 2% positive closing. Such strong Asian markets tomorrow will mean again gap up opening and rally continuation after higher levels consolidations.