Nifty-Intra Day Chart (27-Mar-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673
Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.
All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.
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1- Selling between 6636-6673
2- Whole day actual trading between 6600-6673
Conclusions from intra day chart analysis
Although today closing in Green but big selling patterns formations also seen today therefore generation of a correction signal today. It should also be kept in mind that Bull market complete its correction at higher levels consolidation or side ways market also therefore until complete selling will not develop and any crucial support will not break down till then deeper correction will not seen.
All trends are up and rally continuation but correction is due also. Let selling process complete then will be updated according to final positions formations and till then rally continuation may be seen with lesser force also.