Nifty-Intra Day Chart(10-06-2011):-
Main Features
1- Selling between 5495-5515
2- Buying patterns between 5482-5492
3- Consolidations between 5460-5480
Conclusions
Indian markets slipped after higher levels selling between 5495-5515 but buying patterns seen between 5482-5492 and consolidations seen between 5460-5480. Market moved up after consolidation between 5460-5480 and closed between above mentioned buying patterns range at 5485.
Nifty tested 10 days lows and got intraday support between crucial support range(5460-5480) today and recovered also with intraday consolidation patterns therefore technically crucial support range(5460-5480) is not broken and still maintained its validity.
US markets are more than 1.25% down at this moment and if US markets closes in deep Red today then its impact will be seen on Monday Asian markets. Firstly US markets closing will be seen and its impacts on Indian markets will be understood and discussed in the next 2 days outlooks.
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1- Selling between 5495-5515
2- Buying patterns between 5482-5492
3- Consolidations between 5460-5480
Conclusions
Indian markets slipped after higher levels selling between 5495-5515 but buying patterns seen between 5482-5492 and consolidations seen between 5460-5480. Market moved up after consolidation between 5460-5480 and closed between above mentioned buying patterns range at 5485.
Nifty tested 10 days lows and got intraday support between crucial support range(5460-5480) today and recovered also with intraday consolidation patterns therefore technically crucial support range(5460-5480) is not broken and still maintained its validity.
US markets are more than 1.25% down at this moment and if US markets closes in deep Red today then its impact will be seen on Monday Asian markets. Firstly US markets closing will be seen and its impacts on Indian markets will be understood and discussed in the next 2 days outlooks.