Nifty-Intra Day Chart (16-Apr-2014):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5738-6765
2- Follow up selling between 5692-6703
3- Whole day actual trading between 6665-6748
Firstly higher levels selling and after that follow up selling as well as testing of next support range(6651-6671) today. Long and Intermediate Trends are up,Short Term Trend turned down and correction continuation. Last hope for Bulls is 6651 and once sustaining below 6651 will mean sharp fall because next supports are at much lower levels near 6500.
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1- Selling between 5738-6765
2- Follow up selling between 5692-6703
3- Whole day actual trading between 6665-6748
Conclusions from intra day chart analysis
Firstly higher levels selling and after that follow up selling as well as testing of next support range(6651-6671) today. Long and Intermediate Trends are up,Short Term Trend turned down and correction continuation. Last hope for Bulls is 6651 and once sustaining below 6651 will mean sharp fall because next supports are at much lower levels near 6500.