Nifty-Intra Day Chart (Jun 23 to Jun 27,2014):-
Technical Patterns and Formations in last 5 Sessions intraday charts
1- Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014
2- 5 Sessions actual trading between 7443-7593
Conclusions from 5 Sessions intra day chart analysis
Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014 therefore Nifty is not prepared for any side decisive moves and firstly has to prepare therefore Nifty will trade between previous week trading range and sustaining beyond this range will be following moves confirmations:-
1- Below 7443 will mean correction continuation with possibility of deeper correction.
2- Above 7593 will mean 1st indication of correction completion because above it strong resistances between 7626-7673 and more consolidation is required for next rally.
Nifty-Intra Day Chart (30-Jun-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Consolidation between 7483-7506
3- Whole day actual trading between 7483-7538
Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.
Detailed analysis of EOD charts has been updated in previous weekly analysis of following topic:-
As no material change in EOD charts during previous week therefore not being updated and may click above topic for EOD charts analysis.
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| Just click on chart for its enlarged view |
1- Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014
2- 5 Sessions actual trading between 7443-7593
Conclusions from 5 Sessions intra day chart analysis
Mixed patterns formation and down moves after disappointing news of Gas price revision deferring decision on 26-06-2014 therefore Nifty is not prepared for any side decisive moves and firstly has to prepare therefore Nifty will trade between previous week trading range and sustaining beyond this range will be following moves confirmations:-
1- Below 7443 will mean correction continuation with possibility of deeper correction.
2- Above 7593 will mean 1st indication of correction completion because above it strong resistances between 7626-7673 and more consolidation is required for next rally.
Nifty-Intra Day Chart (30-Jun-2014):-
 |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Consolidation between 7483-7506
3- Whole day actual trading between 7483-7538
Conclusions from intra day chart analysis
Lower levels consolidation with down moves in Bullish Falling Channel therefore emergence of on going correction completion possibility.
Conclusions (After Putting All Studies Together)
Detailed analysis of EOD charts has been updated in previous weekly analysis of following topic:-
As no material change in EOD charts during previous week therefore not being updated and may click above topic for EOD charts analysis.
Bullish Flag formation in last 16 sessions correction therefore expected that finally rally will be seen above 16 sessions highest(7700) after follow up consolidations and on going correction completion as well as deeper correction will not be seen below 16 sessions lowest(7443).