Nifty-Intra Day Chart (03-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8298-8310
3- Whole day actual trading between 8298-8331
Following line was told on 02-11-2014 in Technical Analysis and Market Outlook(03-11-2014):-
As was told yesterday same is being seen and most time trading is below 8330 between 8298-8331 and closing also below 8330 at 8,324.15 on 03-11-2014.
Whole day consolidation patterns formations with lower levels multiple supports therefore emergence of rally continuation possibility. As most heated sentiments and oscillators are over bought therefore some down moves can not be ruled out but Nifty will not sustain below day's lowest(8298) and finally rally will remain continued in the coming sessions.
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1- Consolidation between 8298-8310
3- Whole day actual trading between 8298-8331
Conclusions from intra day chart analysis
Following line was told on 02-11-2014 in Technical Analysis and Market Outlook(03-11-2014):-
consolidation is firstly required for next up moves above day's highest(8330)
As was told yesterday same is being seen and most time trading is below 8330 between 8298-8331 and closing also below 8330 at 8,324.15 on 03-11-2014.
Whole day consolidation patterns formations with lower levels multiple supports therefore emergence of rally continuation possibility. As most heated sentiments and oscillators are over bought therefore some down moves can not be ruled out but Nifty will not sustain below day's lowest(8298) and finally rally will remain continued in the coming sessions.