Nifty-Intra Day Chart (25-Jul-2013):-
Technical Patterns and Formations in today intraday charts
1- Firstly more than 4 hours selling between 5957-5990
2- Whole day actual trading between 5903-5990
Firstly more than 4 hours selling and after that continuous down moves as well as closing near the lower levels of the day therefore decisive down moves seen yesterday.
As very short term trend has been oversold therefore minor up moves possibility can not be ruled out but almost confirmation of corrective Wave-C and expected that finally down moves will be seen in the coming sessions.
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1- Firstly more than 4 hours selling between 5957-5990
2- Whole day actual trading between 5903-5990
Conclusions from intra day chart analysis
Firstly more than 4 hours selling and after that continuous down moves as well as closing near the lower levels of the day therefore decisive down moves seen yesterday.
As very short term trend has been oversold therefore minor up moves possibility can not be ruled out but almost confirmation of corrective Wave-C and expected that finally down moves will be seen in the coming sessions.