Nifty-Intra Day Chart (19-Aug-2013):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Consolidation at lower levels between 5360-5400
3- Whole day actual trading between 5360-5465
Conclusions from intra day chart analysis
Although Gap down opening was not seen but almost 45 points down moves within first 5 seconds. As whole day down moves in Bullish Falling Channel and consolidation seen at lower levels also therefor some up moves can not be ruled out tomorrow after 281 points sharp down moves in last 2 sessions.
Expected that Nifty will firsly trade and prepare for next moves between today trading range(5360-5465),follow up moves and sustaining beyond this range will pave the way of next;-
1-Short Term up trend after sustaining above 5465
2-Short Term down trend after sustaining below 5360
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1- Down moves in Bullish Falling Channel
2- Consolidation at lower levels between 5360-5400
3- Whole day actual trading between 5360-5465
Conclusions from intra day chart analysis
Although Gap down opening was not seen but almost 45 points down moves within first 5 seconds. As whole day down moves in Bullish Falling Channel and consolidation seen at lower levels also therefor some up moves can not be ruled out tomorrow after 281 points sharp down moves in last 2 sessions.
Expected that Nifty will firsly trade and prepare for next moves between today trading range(5360-5465),follow up moves and sustaining beyond this range will pave the way of next;-
1-Short Term up trend after sustaining above 5465
2-Short Term down trend after sustaining below 5360