Nifty-Intra Day Chart (03-Jul-2013):-
Technical Patterns and Formations in today intraday charts
1- More than 3 hours sideways trading between 5762-5781 with lower levels consolidation patterns
2- Whole day actual trading between 5762-5807
Firstly down moves after gap down opening but last more than 3 hours sideways trading between with lower levels consolidation patterns. Valid break out of 5762-5781 should be firstly watched tomorrow and until Nifty will not sustain below today lowest till then immediate down moves will not be considered and bounce back,Pull Back rally or sideways broader range market between 5762-5969 will be considered after sustaining above 5781.
Global markets tumbled today,Crude prices are surging,Political uncertainty in Egypt and Indian Ruppee is weakening therefore sentiment is depressed but lower levels consolidations today therefore firstly follow up moves and finally sustaining beyond 5762-5781 should be watched tomorrow for immediate next moves confirmations.
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1- More than 3 hours sideways trading between 5762-5781 with lower levels consolidation patterns
2- Whole day actual trading between 5762-5807
Conclusions from intra day chart analysis
Firstly down moves after gap down opening but last more than 3 hours sideways trading between with lower levels consolidation patterns. Valid break out of 5762-5781 should be firstly watched tomorrow and until Nifty will not sustain below today lowest till then immediate down moves will not be considered and bounce back,Pull Back rally or sideways broader range market between 5762-5969 will be considered after sustaining above 5781.
Global markets tumbled today,Crude prices are surging,Political uncertainty in Egypt and Indian Ruppee is weakening therefore sentiment is depressed but lower levels consolidations today therefore firstly follow up moves and finally sustaining beyond 5762-5781 should be watched tomorrow for immediate next moves confirmations.