Nifty-Intra Day Chart (11-Aug-2014):-
Technical Patterns and Formations in today intraday charts
1- Support and consolidation between 7599-7616
3- Whole day actual trading between 7599-7635
Although lower levels support and consolidation as well as closing near the higher levels of the day but Indian markets under performed Global cues also today therefore some selling possibility can not be ruled out. Sustaining beyond previous support range(7600-7666) should be watched tomorrow for next immediate decisive move confirmation after first strong indication of correction completion.
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1- Support and consolidation between 7599-7616
3- Whole day actual trading between 7599-7635
Conclusions from intra day chart analysis
Although lower levels support and consolidation as well as closing near the higher levels of the day but Indian markets under performed Global cues also today therefore some selling possibility can not be ruled out. Sustaining beyond previous support range(7600-7666) should be watched tomorrow for next immediate decisive move confirmation after first strong indication of correction completion.