Nifty-Intra Day Chart (25-Nov-2014):-
Technical Patterns and Formations in today intraday charts
1- Mixed Patterns between 8458-8490
2- Consolidation between 8430-8451
3- Whole day actual trading between 8430-8535
As selling pattern of slow up moves in last 3 hours on 24-11-2014 therefore very short term correction was seen yesterday but lower levels good consolidation was also seen therefore emergence of correction completion expectations also. Nifty traded between 8458-8490 with mixed Patterns formations and follow up moves with sustaining beyond this range will be next decisive moves first indication.
Although more than 1% down moves from intraday higher levels yesterday but as such good selling patterns were not seen in last 2 sessions and on the other hand lower levels good consolidation was also seen therefore rally continuation hopes above 8535 are still alive after follow up consolidations in the coming sessions.
As all the Asian markets are flat today morning after quiet closing of US markets yesterday therefore Nifty will remain firstly sideways today between 8430-8490 and prepare for next decisive moves as well as sustaining beyond this range will be first strong indication next big moves.
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1- Mixed Patterns between 8458-8490
2- Consolidation between 8430-8451
3- Whole day actual trading between 8430-8535
Conclusions from intra day chart analysis
As selling pattern of slow up moves in last 3 hours on 24-11-2014 therefore very short term correction was seen yesterday but lower levels good consolidation was also seen therefore emergence of correction completion expectations also. Nifty traded between 8458-8490 with mixed Patterns formations and follow up moves with sustaining beyond this range will be next decisive moves first indication.
Although more than 1% down moves from intraday higher levels yesterday but as such good selling patterns were not seen in last 2 sessions and on the other hand lower levels good consolidation was also seen therefore rally continuation hopes above 8535 are still alive after follow up consolidations in the coming sessions.
As all the Asian markets are flat today morning after quiet closing of US markets yesterday therefore Nifty will remain firstly sideways today between 8430-8490 and prepare for next decisive moves as well as sustaining beyond this range will be first strong indication next big moves.