Nifty-Intra Day Chart (17-Feb-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation Patterns formations and supports between 6045-6065
2- Whole day actual trading between 6040-6080
Most of the time sideways trading between 6045-6078 with good consolidation and supports between 6045-6065 therefore emergence of up moves expectations in the coming sessions but next immediate resistances are between 6090-6106 therefore complete follow up consolidation is required for sustaining above 6106.
Nifty will remain sideways between following ranges and will prepare for next trend as well as their valid break out will be next trend confirmations:-
1- 6045-6106
2- 5934-6180
 |
| Just click on chart for its enlarged view |
1- Consolidation Patterns formations and supports between 6045-6065
2- Whole day actual trading between 6040-6080
Conclusions from intra day chart analysis
Most of the time sideways trading between 6045-6078 with good consolidation and supports between 6045-6065 therefore emergence of up moves expectations in the coming sessions but next immediate resistances are between 6090-6106 therefore complete follow up consolidation is required for sustaining above 6106.
Nifty will remain sideways between following ranges and will prepare for next trend as well as their valid break out will be next trend confirmations:-
1- 6045-6106
2- 5934-6180
Expected that Nifty will consolidate between above mentioned ranges and finally move above 6106/6180 in the coming sessions.