Nifty-Intra Day Chart (07-Jul-2014):-
Technical Patterns and Formations in today intraday charts
1- Higher levels selling
2- Down moves in Bullish Falling Channel
3- Consolidation between 7756-7770
4- Selling in last half hour
5- Whole day actual trading between 7756-7792
Although whole day positive zone trading and closing near the higher levels of the day but higher levels profit booking with selling in last half hour was also seen therefore fresh consolidation is firstly required for sustained rally above today highest. As lower levels consolidation and down moves in Bullish Falling Channel therefore expected that finally rally will be seen above today highest after follow up consolidations.
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1- Higher levels selling
2- Down moves in Bullish Falling Channel
3- Consolidation between 7756-7770
4- Selling in last half hour
5- Whole day actual trading between 7756-7792
Conclusions from intra day chart analysis
Although whole day positive zone trading and closing near the higher levels of the day but higher levels profit booking with selling in last half hour was also seen therefore fresh consolidation is firstly required for sustained rally above today highest. As lower levels consolidation and down moves in Bullish Falling Channel therefore expected that finally rally will be seen above today highest after follow up consolidations.