Nifty-Intra Day Chart(26-05-2011):-
Main Features
1- Positive opening
2- Consolidations between 5355-5382
3- Mixed Patterns between 5372-6406
4- Voltality
Conclusions
Volitile day with consolidations at lower levels,steep fall after some profit booking and sharp surge after some more consolidations. As huge intraday volatile day therefore more intraday patterns are required for next moves confirmations.
Sharp surge seen in last half hour therefore it is strong indication of positive market but crossing of next resistance(5222-5444) is must for a sustained rally confirmation
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1- Positive opening
2- Consolidations between 5355-5382
3- Mixed Patterns between 5372-6406
4- Voltality
Conclusions
Volitile day with consolidations at lower levels,steep fall after some profit booking and sharp surge after some more consolidations. As huge intraday volatile day therefore more intraday patterns are required for next moves confirmations.
Sharp surge seen in last half hour therefore it is strong indication of positive market but crossing of next resistance(5222-5444) is must for a sustained rally confirmation