Nifty-Intra Day Chart (30-Jul-2014):-
1- Down moves in Bullish Falling Channel
2- Supports and consolidation between 7708-7727
3- Last hours up moves between 7756-7798 with mixed patterns formations because both both intraday corrections and in Bearish Rising Channel
4- Whole day actual trading between 7708-7798
As follow up consolidations and lower levels supports after previous sessions good consolidations also therefore strong recovery from lower levels in last hours but with mixed patterns formations between 7756-7798 and Nifty will firstly trade and prepare for next trend within this range as well as valid break out of this range will be next immediate trend confirmations. Expected that finally rally and new life time high formation will be seen in the coming sessions.
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Supports and consolidation between 7708-7727
3- Last hours up moves between 7756-7798 with mixed patterns formations because both both intraday corrections and in Bearish Rising Channel
4- Whole day actual trading between 7708-7798
Conclusions from intra day chart analysis
As follow up consolidations and lower levels supports after previous sessions good consolidations also therefore strong recovery from lower levels in last hours but with mixed patterns formations between 7756-7798 and Nifty will firstly trade and prepare for next trend within this range as well as valid break out of this range will be next immediate trend confirmations. Expected that finally rally and new life time high formation will be seen in the coming sessions.