Nifty-Intra Day Chart(25-05-2011):-
Main Features
1- Falling Channel Pattern
2- Water Fall Bullish Pattern
3- Falling Channel Break Out
4- Consolidations between 5330-5340 in last 3 hours
5- Consolidations between 5342-5355
Conclusions
Technically Indian markets are weak but Pull back rally within couple of sessions was expected after yesterday intraday consolidation but Global storm was so heavy today morning that all the Asian markets were down and resultant Indian markets also could not survived at intraday higher levels and slipped in Water Fall Bullish Pattern(Falling Channel Pattern)
Last 3 hours consolidation between 5330-5355 and bounce back will be seen tomorrow.
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1- Falling Channel Pattern
2- Water Fall Bullish Pattern
3- Falling Channel Break Out
4- Consolidations between 5330-5340 in last 3 hours
5- Consolidations between 5342-5355
Conclusions
Technically Indian markets are weak but Pull back rally within couple of sessions was expected after yesterday intraday consolidation but Global storm was so heavy today morning that all the Asian markets were down and resultant Indian markets also could not survived at intraday higher levels and slipped in Water Fall Bullish Pattern(Falling Channel Pattern)
Last 3 hours consolidation between 5330-5355 and bounce back will be seen tomorrow.