Nifty-Intra Day Chart (15-Jan-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325
Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.
TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.
 |
| Just click on chart for its enlarged view |
1- Selling between 6307-6316.
2- Up moves in Bearish Rising Channel in last 2 hours.
3- Whole day actual trading between 6266-6325
Conclusions from intra day chart analysis
Strong recovery from lower levels after strong global markets and improved WPI numbers but selling at higher levels and last 2 hours Up moves in Bearish Rising Channel also therefore until Nifty will not sustain above today highest till then next up moves will not be considered.
TCS quarterly results tomorrow and next trend will form after RIL results next Friday and next trend will form after the declaration of these 2 results. Although today closing near the highest of today but follow up moves in the coming 2 sessions and finally sustaining beyond 6232-6325 should be firstly watched now for next moves 1st indication because today selling patterns were seen within strong resistances between 6260-6358.