Nifty-Intra Day Chart (10-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 6806-6819
2- Whole day actual trading between 6778-6819
Last traded price of today is at the lowest of the day at 6777.30 but when Nifty was trading near the higher levels of the day then following lines were clearly told at 01:39 PM today in Mid-session Outlook(10-04-2014):-
when Nifty was trading near the lower levels of the day yesterday then following line was told at 01:15 PM yesterday in Mid-session Outlook:-
Technical positions of last 2 sessions are as follows:-
1- Good consolidation between 6706-6732 yesterday and this range will be next support.
2- Good selling between 6806-6819 today and this range will be next resistance.
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1- Selling between 6806-6819
2- Whole day actual trading between 6778-6819
Conclusions from intra day chart analysis
Last traded price of today is at the lowest of the day at 6777.30 but when Nifty was trading near the higher levels of the day then following lines were clearly told at 01:39 PM today in Mid-session Outlook(10-04-2014):-
Most time positive zone trading but some selling patterns formations also seen today.
when Nifty was trading near the lower levels of the day yesterday then following line was told at 01:15 PM yesterday in Mid-session Outlook:-
expectations are alive for rally continuation above 6776 in the coming sessions.
Technical positions of last 2 sessions are as follows:-
1- Good consolidation between 6706-6732 yesterday and this range will be next support.
2- Good selling between 6806-6819 today and this range will be next resistance.
As lower levels good supports and higher levels good selling between 6706-6819 in last 2 sessions therefore Nifty will remain sideways and prepare for next trend between this range tomorrow and follow up moves within and near about this range will decide next trend.
Let market prepare for next trend between 6706-6819 then next trend will be decided according to intraday charts patterns formations and will be updated accordingly as being done for the last 4 years.