Nifty-Intra Day Chart (06-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- Firstly up moves Bearish Rising Channel.
2- Sharp up moves after positive opening of European markets.
3- Whole day actual trading between 6340-6406
As strong Asian markets therefore positive opening and sharp up moves after Green opening of European markets as well as today closing at all time high. All trends are up but selling patterns formations in last 3 sessions and Short Term Indicators are overbought also therefore Short Term Correction is expected in the coming sessions because no consolidation pattern formation seen today and today up moves were positive Global markets generated .
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1- Firstly up moves Bearish Rising Channel.
2- Sharp up moves after positive opening of European markets.
3- Whole day actual trading between 6340-6406
Conclusions from intra day chart analysis
As strong Asian markets therefore positive opening and sharp up moves after Green opening of European markets as well as today closing at all time high. All trends are up but selling patterns formations in last 3 sessions and Short Term Indicators are overbought also therefore Short Term Correction is expected in the coming sessions because no consolidation pattern formation seen today and today up moves were positive Global markets generated .