Nifty-Intra Day Chart (23-Jun-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Buying between 7441-7466
3- Whole day actual trading between 7441-7534
Following lines were told at 08:19 AM today in Bullish Flag formation in last 11 sessions correction:-
1- expected that correction will finish near about 7488
2- possibility of minor slipping below 7488 should be kept in mind
Following line was told at 12:59 PM today in Mid-session Outlook(23-06-2014):-
emergence of supports getting possibility near about today lowest(7452) of at this moment
As was told 100% same happened and strong recovery from lower levels after supports getting at 7441
Strong recovery from lower levels after consolidation and good supports at lower levels today therefore first strong indication of that correction completion which started from 7700.05 on 11-06-2014
Supports between 7488-7566 in 11 sessions of previous weeks and today supports with consolidation just below it as well as Nifty got supports near about 21 day EMA(7453) therefore sustaining above 7441 tomorrow will mean fresh rally towards next resistance range(7626-7673)
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1- Down moves in Bullish Falling Channel
2- Buying between 7441-7466
3- Whole day actual trading between 7441-7534
Conclusions from intra day chart analysis
Following lines were told at 08:19 AM today in Bullish Flag formation in last 11 sessions correction:-
1- expected that correction will finish near about 7488
2- possibility of minor slipping below 7488 should be kept in mind
As was told 100% same happened and minor slipping below 7488 today and closing above it also at 7493.35 after bottom formation at 7441.
Following line was told at 12:59 PM today in Mid-session Outlook(23-06-2014):-
emergence of supports getting possibility near about today lowest(7452) of at this moment
As was told 100% same happened and strong recovery from lower levels after supports getting at 7441
Strong recovery from lower levels after consolidation and good supports at lower levels today therefore first strong indication of that correction completion which started from 7700.05 on 11-06-2014
Supports between 7488-7566 in 11 sessions of previous weeks and today supports with consolidation just below it as well as Nifty got supports near about 21 day EMA(7453) therefore sustaining above 7441 tomorrow will mean fresh rally towards next resistance range(7626-7673)