Nifty-Intra Day Chart (30-Jun-2014):-
Technical Patterns and Formations in today intraday charts
1- More than 5 hours trading with mixed Patterns formations between 7564-7605
2- Whole day actual trading between 7540-7623
Although correction continuation since 11-06-2014 from 7700 but its completion possibility was told in following lines at 09:02 AM today in Technical Analysis,Research & Weekly Outlook(Jun 30 to Jul 04,2014):-
Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.
Correction completion possibility was told and more than 75 points recovery within first 10 minutes immediately after positive opening today and almost whole day more than 1% positive trading as well as 1.37% up closing today.
More than 5 hours trading between 7564-7605 with mixed Patterns formations today but Indian markets out performed Global cues and psychological studies also indicating buying possibility within this range therefore 1st strong signal of trading and sustaining above highest of this range(7605)
As immediate resistances between 7626-7673 are just above today 5 hours trading range therefore more consolidation is required for valid break out above 7673 and fresh rally above 7700. Expected that Nifty will firstly trade between 7443-7673 and prepare for next decisive moves within this range. Market will take its own time within this range but finally rally is expected above 7673/7700 after follow up consolidations in the coming sessions/weeks.
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1- More than 5 hours trading with mixed Patterns formations between 7564-7605
2- Whole day actual trading between 7540-7623
Conclusions from intra day chart analysis
Although correction continuation since 11-06-2014 from 7700 but its completion possibility was told in following lines at 09:02 AM today in Technical Analysis,Research & Weekly Outlook(Jun 30 to Jul 04,2014):-
Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.
Correction completion possibility was told and more than 75 points recovery within first 10 minutes immediately after positive opening today and almost whole day more than 1% positive trading as well as 1.37% up closing today.
More than 5 hours trading between 7564-7605 with mixed Patterns formations today but Indian markets out performed Global cues and psychological studies also indicating buying possibility within this range therefore 1st strong signal of trading and sustaining above highest of this range(7605)
As immediate resistances between 7626-7673 are just above today 5 hours trading range therefore more consolidation is required for valid break out above 7673 and fresh rally above 7700. Expected that Nifty will firstly trade between 7443-7673 and prepare for next decisive moves within this range. Market will take its own time within this range but finally rally is expected above 7673/7700 after follow up consolidations in the coming sessions/weeks.