Correction continuation
Technical Analysis and Market Outlook
(15-01-2015)
Nifty-Intra Day Chart (14-Jan-2015):- |
| Just click on chart for its enlarged view |
1- Selling between 8300-8326 (Immediate Resistances)
2- Support between 8237-8264 (Immediate Supports)
3- Pennant Pattern formations
4- Whole day actual trading between 8237-8326
Conclusions from intra day chart analysis
Both higher levels selling patterns and lower levels supports with high intraday volatility therefore no clear signals from today intraday patterns. As Pennant Pattern formations today therefore valid break out of its lines will be next immediate moves first indication but more consolidation is firstly required for any decisive up moves.
Wave'c' of Wave'C' started yesterday after good selling and its continuation is expected towards 7961 because as such consolidation was not seen today which may suggest any decisive up move.
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Intraday Levels and Trading Strategy
For 15-01-2015
For 15-01-2015
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