Nifty-Intra Day Chart (13-May-2015):-
Technical Patterns and Formations in today intraday charts
1- Selling between 8215-8254
2- Consolidation between 8090-8136
3- Consolidation between 8204-8244
4- Mixed Patterns between 8204-8254
5- Whole day high volatility
6- Whole day actual trading between 8090-8254
Firstly 128 points up in 1st hour but higher levels selling and after that 164 points fall was seen in 2nd hour today. As lower levels consolidation therefore 114 points recovery from lower levels and higher levels consolidation patterns were seen in last 2 hours today.
As higher levels mixed Patterns formations between 8204-8254 today therefore firstly valid break out of this range should be watched tomorrow for next trend first strong indication. Whole day high volatility in following manner therefore confirmation is must because technical positions reverses during such high volatility.
Whole day high volatility in following manner today:-
128 Points up in 1st hour
164 Points down in 2nd hour
114 Points up after 01:00 PM
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1- Selling between 8215-8254
2- Consolidation between 8090-8136
3- Consolidation between 8204-8244
4- Mixed Patterns between 8204-8254
5- Whole day high volatility
6- Whole day actual trading between 8090-8254
Conclusions from intra day chart analysis
Firstly 128 points up in 1st hour but higher levels selling and after that 164 points fall was seen in 2nd hour today. As lower levels consolidation therefore 114 points recovery from lower levels and higher levels consolidation patterns were seen in last 2 hours today.
As higher levels mixed Patterns formations between 8204-8254 today therefore firstly valid break out of this range should be watched tomorrow for next trend first strong indication. Whole day high volatility in following manner therefore confirmation is must because technical positions reverses during such high volatility.
Whole day high volatility in following manner today:-
128 Points up in 1st hour
164 Points down in 2nd hour
114 Points up after 01:00 PM
As good consolidations today therefore high possibility of fresh up moves towards the top of last 13 sessions range(8365) but view is cautious and valid break out of 8204-8254 is must because high volatility today.