Nifty-Intra Day Chart (25-Feb-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6206-6216
2- Consolidation Patterns between 6177-6192
3- Down moves in Bullish Falling Channel in last hour.
4- Whole day actual trading between 6177-6216
39 Points range bound trading with higher levels selling but lower levels consolidation and Bullish Falling Channel formation in last hour also therefore on going rally continuation hopes are alive after intraday correction completion today. All the next resistances of Nifty are as follows:-
1- 6265-6292
2- 6320-6358
3- 6350-6380
As Feb. Derivative expiry tomorrow therefore next moves beyond 6200 should also be firstly watched tomorrow because both selling above it and buying below it today as well as valid break out of today trading range(6177-6216) will be next trend confirmations while finally rally continuation is expected within next 1/2 sessions..
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1- Selling between 6206-6216
2- Consolidation Patterns between 6177-6192
3- Down moves in Bullish Falling Channel in last hour.
4- Whole day actual trading between 6177-6216
Conclusions from intra day chart analysis
39 Points range bound trading with higher levels selling but lower levels consolidation and Bullish Falling Channel formation in last hour also therefore on going rally continuation hopes are alive after intraday correction completion today. All the next resistances of Nifty are as follows:-
1- 6265-6292
2- 6320-6358
3- 6350-6380
As Feb. Derivative expiry tomorrow therefore next moves beyond 6200 should also be firstly watched tomorrow because both selling above it and buying below it today as well as valid break out of today trading range(6177-6216) will be next trend confirmations while finally rally continuation is expected within next 1/2 sessions..