Nifty-Intra Day Chart (18-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling patterns formations between 6548-6574.
2- Whole day actual trading between 6498-6574
Neither we were Bullish nor Bearish and expecting side ways market between 6433-6561 and Nifty closed within this range after higher levels selling patterns formations between 6548-6574. Although firstly some recovery and new all time high formation as well as some up moves in last hour after lower levels minor supports but as such consolidation was not seen and follow up selling tomorrow will mean decisive down moves towards or below 6433.
Sustaining beyond 6433-6561 was told for the confirmation of next trend but Nifty traded above 6561 and fresh selling seen between 6548-6574 therefore sideways market range has been changed and now Nifty will trade and prepare for next trend between 6433-6574 and finally sustaining beyond it will decide next decisive trend therefore should be firstly watched in the coming sessions..
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1- Selling patterns formations between 6548-6574.
2- Whole day actual trading between 6498-6574
Conclusions from intra day chart analysis
Neither we were Bullish nor Bearish and expecting side ways market between 6433-6561 and Nifty closed within this range after higher levels selling patterns formations between 6548-6574. Although firstly some recovery and new all time high formation as well as some up moves in last hour after lower levels minor supports but as such consolidation was not seen and follow up selling tomorrow will mean decisive down moves towards or below 6433.
Sustaining beyond 6433-6561 was told for the confirmation of next trend but Nifty traded above 6561 and fresh selling seen between 6548-6574 therefore sideways market range has been changed and now Nifty will trade and prepare for next trend between 6433-6574 and finally sustaining beyond it will decide next decisive trend therefore should be firstly watched in the coming sessions..