Nifty-EOD Chart (26-Mar-2013):-
Technical Patterns and Formations in EOD charts
1- Wave v of Wave 3 completion(6111.80 on 29-01-2013)
2- and Wave 4(ABC correction) beginning
3- Wave A(5663.60 on 04-03-2012)
4- Wave A retraced 448.20 points.
5- Wave B(5971.20 on 11-03-2012)
6- Wave B gained 307.60 points
7- Wave C bottom formation at 5612.05 on 26-03-2012
8- Wave C has retraced 359.15 points yet.
9- Corrective Wave C of Wave 4 continuation.
10- 200 Day EMA at 5671
11- 200 Day DMA at 5624
12- Last 4 sessions closing betwen 200 Day DMA and EMA
Nifty-Intra Day Chart (26-Mar-2013):-
Technical Patterns and Formations in today intraday charts
1- Up moves in Bearish Rising channel
3- Whole day actual trading between 5618-5654
Short and Intermediate Term Trend are down and Long Term trend is struggling between 200 Day DMA(5624) and EMA(5671) through closing between these 2 Averages for the last 4 sessions. As selling patterns formations in the intraday charts of 27-03-2012 therefore correction continuation is expected.
Detailed analysis of EOD charts have already been updated in following topics. Just click following topic links and understand Indian Stock markets technicals:-
1- Long Term Trend is at stake
2- Correction completion confirmation after sustaining above 5672
 |
| Just click on chart for its enlarged view |
1- Wave v of Wave 3 completion(6111.80 on 29-01-2013)
2- and Wave 4(ABC correction) beginning
3- Wave A(5663.60 on 04-03-2012)
4- Wave A retraced 448.20 points.
5- Wave B(5971.20 on 11-03-2012)
6- Wave B gained 307.60 points
7- Wave C bottom formation at 5612.05 on 26-03-2012
8- Wave C has retraced 359.15 points yet.
9- Corrective Wave C of Wave 4 continuation.
10- 200 Day EMA at 5671
11- 200 Day DMA at 5624
12- Last 4 sessions closing betwen 200 Day DMA and EMA
Nifty-Intra Day Chart (26-Mar-2013):-
 |
| Just click on chart for its enlarged view |
1- Up moves in Bearish Rising channel
3- Whole day actual trading between 5618-5654
Conclusions (After Putting All Studies Together)
Short and Intermediate Term Trend are down and Long Term trend is struggling between 200 Day DMA(5624) and EMA(5671) through closing between these 2 Averages for the last 4 sessions. As selling patterns formations in the intraday charts of 27-03-2012 therefore correction continuation is expected.
Detailed analysis of EOD charts have already been updated in following topics. Just click following topic links and understand Indian Stock markets technicals:-
1- Long Term Trend is at stake
2- Correction completion confirmation after sustaining above 5672