Nifty-Intra Day Chart (22-Oct-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 7976-7988
2- Up moves with intraday corrections
3- Whole day actual trading between 7976-8005
Conclusions from intra day chart analysis
As lower levels consolidation and Up moves with intraday corrections also therefore emergence of rally continuation expectations in the coming sessions.
Nifty-Intra Day Chart (23-Oct-2014):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 8009-8031
Conclusions from intra day chart analysis
Although most time slipping after gap up opening but in Bullish Falling Channel therefore rally continuation in the coming sessions.
All trends are up and correction continuation for the last 28 sessions but with Bullish Flag formations on EOD charts therefore rally continuation is expected after correction completion. Last 17 sessions sideways trading between 7724-8030 with with higher levels resistances and once sustaining above 8030 will mean strong indication of fresh rally after correction completion.
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| Just click on chart for its enlarged view |
1- Consolidation between 7976-7988
2- Up moves with intraday corrections
3- Whole day actual trading between 7976-8005
Conclusions from intra day chart analysis
As lower levels consolidation and Up moves with intraday corrections also therefore emergence of rally continuation expectations in the coming sessions.
Nifty-Intra Day Chart (23-Oct-2014):-
 |
| Just click on chart for its enlarged view |
1- Down moves in Bullish Falling Channel
2- Whole day actual trading between 8009-8031
Conclusions from intra day chart analysis
Although most time slipping after gap up opening but in Bullish Falling Channel therefore rally continuation in the coming sessions.
Conclusions (After Putting All Indicators Together)
All trends are up and correction continuation for the last 28 sessions but with Bullish Flag formations on EOD charts therefore rally continuation is expected after correction completion. Last 17 sessions sideways trading between 7724-8030 with with higher levels resistances and once sustaining above 8030 will mean strong indication of fresh rally after correction completion.
Finally rally continuation is expected above 8030 in next week