Technical Analysis and Research of EOD charts,Micro Analysis of Nifty Intra Day Charts,Technical Positions,next possibilities have already been explained in following topics with 4 Charts therefore not being repeated:-
1-Nifty-Micro Analysis of Intra Day Chart For 14-06-2011
2-Technical Analysis and Research(Waves Structure)
Conclusions (After Putting All Studies Together)
Range bound Indian markets were proved,following lines were told in the topic on 12-06-2011-What will be Indian markets reaction on Dow's 175 points crash?
1- Whatsoever may be depressing Asian markets reaction on US market 1.5% last Friday down but Nifty will first trade between 5400-5473 and prepare for next moves. Good supports below 5400 and Nifty require complete selling for slipping below 5329.
2- Nifty can not go any where and will first trade and prepare for next moves between this range in the coming sessions
Above lines were told in most depressing sentiment which proved 100% accurate. Nifty could not go anywhere,remained range bound and closed flat with whole day intraday consolidation patterns within 5436-5496 on 13-06-2011.
Next resistance range is 5522-5604 and market require complete consolidation to cross it. In the same manner first strong support range is 5438-5480. Expected nifty moves are as follows on 14-06-2011:-
Nifty traded last 3 hours within 5477-5496 on 13-06-2011 with intraday consolidation patterns and this range break out as well sustaining beyond will be next moves first indication. As consolidation within this range and follow up consolidations on 14-06-2011 will mean entry into next resistance range(5522-5604) because strong supports below this this range within 5438-5480 also.
Whatsoever strong/weak sentiments on 14-06-2011 but Nifty will trade firstly and most of the time between 5450-5520 and also closing expected within this range. Strong resistance above this range and strong supports below this range. Follow up buying/Selling and break out of this range will give second strong indication of next strong moves.
Let Nifty prepare for next moves within 5450-5520 then next moves will be decided and posted from intraday charts formations as were posted yesterday before the beginning of up moves.