Nifty-Intra Day Chart (10-Jul-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5857-5879
2- Sharp down
3- Whole day actual trading between 5804-5879
Firstly more than 4 hours selling within narrow range market and after that range broken down force fully as well as closing near the lower levels of the day today. Correction is very much on and its continuation is expected in the coming sessions.
Although correction was seen today but we are continuously daily telling its possibility since Monday in following topics:_
1-On 08-07-2013- High possibility of Corrective Wave-C continuation( Weekly Outlook
(Jul 08 to Jul 12,2013))
2-On 09-07-2013- Firstly Sideways market and Finally Wave-C correction continuation
3-On 10-07-2013- Technical Analysis and Market Outlook(10-07-2013)
4-On 10-07-2013- Pre-open Outlook(10-07-2013)
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| Just click on chart for its enlarged view |
1- Selling between 5857-5879
2- Sharp down
3- Whole day actual trading between 5804-5879
Conclusions from intra day chart analysis
Firstly more than 4 hours selling within narrow range market and after that range broken down force fully as well as closing near the lower levels of the day today. Correction is very much on and its continuation is expected in the coming sessions.
Although correction was seen today but we are continuously daily telling its possibility since Monday in following topics:_
1-On 08-07-2013- High possibility of Corrective Wave-C continuation( Weekly Outlook
(Jul 08 to Jul 12,2013))
2-On 09-07-2013- Firstly Sideways market and Finally Wave-C correction continuation
3-On 10-07-2013- Technical Analysis and Market Outlook(10-07-2013)
4-On 10-07-2013- Pre-open Outlook(10-07-2013)
Just click above 4 topic links and understand technical reasons of on going correction.