Nifty-Intra Day Chart (Nov 20 & Nov 21,2013):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Good selling between 6200-6212 on 19-11-2013.
2- Up moves after double bottom supports on 20-11-2013.
3- Follow up selling at intraday higher levels between 6186-6203 on 20-11-2013.
4- Fast down moves after 2 sessions selling 6186-6212
5- 2 Sessions actual trading between 6129-6212
Very Short Term Correction was told in all the Outlooks of last 2 sessions and it was seen today. As firstly good selling yesterday and follow up selling today after double bottom supports therefore fast down moves seen in last half hour.
2 Sessions good selling between 6186-6212 and until Nifty will not sustain above above 6212 till then next up moves will not be considered and complete consolidation is required for decisive up moves because next supports(6131-6139) range broken down today and sustaining beyond 6131 should be firstly watched tomorrow for the confirmation of:-
1- Deeper correction below 6131.
2- Correction completion above 6131.
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1- Good selling between 6200-6212 on 19-11-2013.
2- Up moves after double bottom supports on 20-11-2013.
3- Follow up selling at intraday higher levels between 6186-6203 on 20-11-2013.
4- Fast down moves after 2 sessions selling 6186-6212
5- 2 Sessions actual trading between 6129-6212
Conclusions from 2 Sessions intra day chart analysis
Very Short Term Correction was told in all the Outlooks of last 2 sessions and it was seen today. As firstly good selling yesterday and follow up selling today after double bottom supports therefore fast down moves seen in last half hour.
2 Sessions good selling between 6186-6212 and until Nifty will not sustain above above 6212 till then next up moves will not be considered and complete consolidation is required for decisive up moves because next supports(6131-6139) range broken down today and sustaining beyond 6131 should be firstly watched tomorrow for the confirmation of:-
1- Deeper correction below 6131.
2- Correction completion above 6131.