Nifty-Intra Day Chart (12-Sep-2013):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Falling channel with both minor selling and some supports also.
2- Lower levels supports in last hour between 5917-5935
3- Whole day actual trading between 5917-5904
Following line was told yesterday in Emergence of Correction Possibility:-
1- more possibility of down moves below 5835 in the coming sessions.
2- possibility of firstly trading between today trading range(5835-5924)
Although more than 5 hours continuous down moves immediately after opening today but without as such selling patterns formations and it was updated also in both previous Outlooks resultant lower levels support in last hour and Nifty recovered more than 45 points.
Intermediate and Short Term Trends are up and Long Term Trend will be up after the confirmation of sustaining above its decider 200-Day EMA(today at 5734). As last 2 sessions trading between 5917-5924 with both selling and buying therefore firstly one sided positions formations are required for next decisive trend. Expected that Nifty will firstly trade and prepare for next decisive moves near about 5917-5924 and sustaining beyond this range should be firstly watched in the coming sessions for Long Term Trend confirmations.
 |
| Just click on chart for its enlarged view |
1- Down moves in Falling channel with both minor selling and some supports also.
2- Lower levels supports in last hour between 5917-5935
3- Whole day actual trading between 5917-5904
Conclusions from intra day chart analysis
Following line was told yesterday in Emergence of Correction Possibility:-
1- more possibility of down moves below 5835 in the coming sessions.
2- possibility of firstly trading between today trading range(5835-5924)
As was told yesterday 100% same happened today and almost whole day down moves were seen as well as Nifty slipped below 5935,Nifty traded most time and closed within already mentioned range(5835-5924) also.
Although more than 5 hours continuous down moves immediately after opening today but without as such selling patterns formations and it was updated also in both previous Outlooks resultant lower levels support in last hour and Nifty recovered more than 45 points.
Intermediate and Short Term Trends are up and Long Term Trend will be up after the confirmation of sustaining above its decider 200-Day EMA(today at 5734). As last 2 sessions trading between 5917-5924 with both selling and buying therefore firstly one sided positions formations are required for next decisive trend. Expected that Nifty will firstly trade and prepare for next decisive moves near about 5917-5924 and sustaining beyond this range should be firstly watched in the coming sessions for Long Term Trend confirmations.