Nifty-Intra Day Chart (26-Sep-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5898-5917
2- Selling between 5887-5896
3- Whole day actual trading between 5864-5917
Although Nifty closed near the lower levels of the day after loosing most intraday gains but when Indian markets were trading near the higher levels of the day then following lines were told at 02:28 PM in Mid-session Outlook-2(26-09-2013):-
Firstly higher levels good selling and after that closing near the lower levels of the day today therefore more down moves are expected. Follow up selling and sustaining below following supports will mean steep fall and deeper correction as well as its possibility turned higher today:-
1- 5811-5835
2- 5779-5810
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1- Selling between 5898-5917
2- Selling between 5887-5896
3- Whole day actual trading between 5864-5917
Conclusions from intra day chart analysis
Although Nifty closed near the lower levels of the day after loosing most intraday gains but when Indian markets were trading near the higher levels of the day then following lines were told at 02:28 PM in Mid-session Outlook-2(26-09-2013):-
Although Nifty is trading near the higher levels of the day and .52% up also at this moment but today intraday charts patterns are showing selling formations.
Firstly higher levels good selling and after that closing near the lower levels of the day today therefore more down moves are expected. Follow up selling and sustaining below following supports will mean steep fall and deeper correction as well as its possibility turned higher today:-
1- 5811-5835
2- 5779-5810