Nifty-Intra Day Chart (Mar 24 & Mar 25,2014)
Technical Patterns and Formations in last 2 Sessions intraday charts
1- 2 Sessions most time trading 6566-6595
3- 2 Sessions actual trading between 6511-6595
Last 2 sessions most time trading within 33 points between 6566-6599 means taking positions for next big moves within range bound market. As more than 12 hours sideways trading therefore it is like accumulations of explosives and sustaining beyond or forceful break out of this range will mean explosion of 100 Nifty points.
Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction. Although Dow Jones is now trading 110 points up and all the European markets are also more than 1% up at this moment therefore emergence of boosted sentiments possibility tomorrow morning if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595.
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1- 2 Sessions most time trading 6566-6595
3- 2 Sessions actual trading between 6511-6595
Conclusions from 2 Sessions intra day chart analysis
Last 2 sessions most time trading within 33 points between 6566-6599 means taking positions for next big moves within range bound market. As more than 12 hours sideways trading therefore it is like accumulations of explosives and sustaining beyond or forceful break out of this range will mean explosion of 100 Nifty points.
Intraday charts of today are showing some selling indications therefore follow up consolidations and sustaining above 6595 is must for rally continuation without any correction. Although Dow Jones is now trading 110 points up and all the European markets are also more than 1% up at this moment therefore emergence of boosted sentiments possibility tomorrow morning if Asian markets also shows such Bullishness but sustaining above 6595 or huge gap up opening is must for further rally above 6595.