Nifty-Intra Day Chart (16-Jan-2015):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 8455-8480
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Mixed Patterns between 8507-8526
5- Whole day actual trading between 8453-8530
Following lines were told on 15-01-2015 in "Most Bullish news led Strong Rally require Confirmation"
Last 3 hours trading between 8469-8527 and this range broken down therefore higher levels Profit Booking will be considered and firstly sustaining above today highest should be watched for next up moves confirmations.
Although selling patterns formations were also seen on 16-01-2015 but Indian markets out performed Global cues in following manner:-
1- When all the Asian markets were in deep Red and Dow's Futures was trading more than 140 points down then at that time Nifty opened flat.
2- Most Indian Indices closed in Green despite Red closing of Most Asian markets
Although Dow's Futures traded in deep Red during Indian trading hours but Dow Jones closed 190 points up last Friday and resultant SGX Nifty also closed 88 points up therefore sentiment may remain strong and gap up opening can not be ruled out next Monday. It should be kept in mind that both consolidation and selling patterns formations were seen between 8453-8530 in last 2 sessions therefore firstly sustaining beyond this range should be watched in the beginning of next week for next trend confirmations
As Waves structure suddenly changed after Repo Rate Cut by RBI and completely mixed patterns on intraday charts last Friday therefore firstly follow up moves and sustaining beyond 8453-8530 will be watched in the coming 1/2 sessions and then next decisive moves will updated after final conclusions.
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1- Consolidation between 8455-8480
2- Up moves in Bearish Rising Channel
3- Down moves in Bullish Falling Channel
4- Mixed Patterns between 8507-8526
5- Whole day actual trading between 8453-8530
Conclusions from intra day chart analysis
Following lines were told on 15-01-2015 in "Most Bullish news led Strong Rally require Confirmation"
Last 3 hours trading between 8469-8527 and this range broken down therefore higher levels Profit Booking will be considered and firstly sustaining above today highest should be watched for next up moves confirmations.
Profit booking was told between 8469-8527 and Nifty traded most time as well as closed within this range on 16-01-2015.
Although selling patterns formations were also seen on 16-01-2015 but Indian markets out performed Global cues in following manner:-
1- When all the Asian markets were in deep Red and Dow's Futures was trading more than 140 points down then at that time Nifty opened flat.
2- Most Indian Indices closed in Green despite Red closing of Most Asian markets
Although Dow's Futures traded in deep Red during Indian trading hours but Dow Jones closed 190 points up last Friday and resultant SGX Nifty also closed 88 points up therefore sentiment may remain strong and gap up opening can not be ruled out next Monday. It should be kept in mind that both consolidation and selling patterns formations were seen between 8453-8530 in last 2 sessions therefore firstly sustaining beyond this range should be watched in the beginning of next week for next trend confirmations
As Waves structure suddenly changed after Repo Rate Cut by RBI and completely mixed patterns on intraday charts last Friday therefore firstly follow up moves and sustaining beyond 8453-8530 will be watched in the coming 1/2 sessions and then next decisive moves will updated after final conclusions.
Our Policy is:- "No gossiping never guessing and whatsoever market suggest,only that is always updated"
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For 19-01-2015
For 19-01-2015
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