Nifty-Intra Day Chart (Sep 24 to Oct 10,2014):-
Technical Patterns and Formations in last 10 Sessions intraday charts
1- 10 Sessions actual trading between 7818-8030
2- Lower levels supports
3- Higher levels resistances.
Conclusions from 10 Sessions intra day chart analysis
10 Sessions trading between 7818-8030 with following supports and resistances;-
1- Supports between 7842-7910
2- Supports between 7818-7850
1- Resistances between 8008-8030
2- Resistances between 7975-7991
3- Resistances between 7955-7972
Although Nifty closed within 1st supports range but both higher levels selling and lower levels buying seen in last 10 sessions therefore Nifty will prepare for next big moves within and near about this range for next decisive moves and sustaining beyond last 10 Sessions trading range(7818-8030) should be firstly watched in the coming week for next big trend confirmations.
Nifty-Intra Day Chart (10-Oct-2014):-
Technical Patterns and Formations in today intraday charts
1- Whole day high Volitility.
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 7848-7924
Conclusions from intra day chart analysis
Whole day both Bullish and Bearish patterns formations with no specific position formations therefore valid break out of today trading range should be watched because technical positions reverses in whole day such high volatility which was seen on 10-10-2014
Short Term Correction continuation since 08-09-2014 but last 10 Sessions sideways trading between 7818-8030 and valid break out of this range will decide the fate of on going correction. Sustaining below 7818 will mean Intermediate Term Trend turning down confirmation and that will mean deeper correction towards 200 Day EMA(today at 7230). Sustaining above 8030 will be 1st strong indication of correction completion.
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| Just click on chart for its enlarged view |
1- 10 Sessions actual trading between 7818-8030
2- Lower levels supports
3- Higher levels resistances.
Conclusions from 10 Sessions intra day chart analysis
10 Sessions trading between 7818-8030 with following supports and resistances;-
1- Supports between 7842-7910
2- Supports between 7818-7850
1- Resistances between 8008-8030
2- Resistances between 7975-7991
3- Resistances between 7955-7972
Although Nifty closed within 1st supports range but both higher levels selling and lower levels buying seen in last 10 sessions therefore Nifty will prepare for next big moves within and near about this range for next decisive moves and sustaining beyond last 10 Sessions trading range(7818-8030) should be firstly watched in the coming week for next big trend confirmations.
Nifty-Intra Day Chart (10-Oct-2014):-
 |
| Just click on chart for its enlarged view |
1- Whole day high Volitility.
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Whole day actual trading between 7848-7924
Conclusions from intra day chart analysis
Whole day both Bullish and Bearish patterns formations with no specific position formations therefore valid break out of today trading range should be watched because technical positions reverses in whole day such high volatility which was seen on 10-10-2014
Conclusions (After Putting All Studies Together)
Short Term Correction continuation since 08-09-2014 but last 10 Sessions sideways trading between 7818-8030 and valid break out of this range will decide the fate of on going correction. Sustaining below 7818 will mean Intermediate Term Trend turning down confirmation and that will mean deeper correction towards 200 Day EMA(today at 7230). Sustaining above 8030 will be 1st strong indication of correction completion.
Finally sustaining beyond 7817-8030 should be watched in next week for next big moves confirmations..