Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Chart,Technical Positions,next possibilities have already been explained in following topicS with 2 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 07-06-2011
Conclusions (After Putting All Studies Together)
Long term trend is down. Intermediate term and short term trends are sideways. All the trends will be up above 5605. Nifty is trading between 5329-5605 for the last 26 sessions with Inverted Head and Shoulders(Bullish) formations,Neckline is at 5605 and above it all the trends will also be up therefore blasting rally will be seen above 5605.
Next Resistance and Supports are as follows
1- Next Resistance between 5580-5604
2- Next Support,base formation and consolidation between 5459-5520.
Expected next trading range is 5500-5570 and Nifty will prepare for next moves within it. As support and base formations at lower levels therefore follow up buying today will mean testing of above mentioned range and its possibility is strong. Next decisive moves confirmation range is 5459-5605.
1- Nifty-Micro Analysis of Intra Day Chart For 07-06-2011
Conclusions (After Putting All Studies Together)
Long term trend is down. Intermediate term and short term trends are sideways. All the trends will be up above 5605. Nifty is trading between 5329-5605 for the last 26 sessions with Inverted Head and Shoulders(Bullish) formations,Neckline is at 5605 and above it all the trends will also be up therefore blasting rally will be seen above 5605.
Next Resistance and Supports are as follows
1- Next Resistance between 5580-5604
2- Next Support,base formation and consolidation between 5459-5520.
Expected next trading range is 5500-5570 and Nifty will prepare for next moves within it. As support and base formations at lower levels therefore follow up buying today will mean testing of above mentioned range and its possibility is strong. Next decisive moves confirmation range is 5459-5605.