Nifty closed in Red on 30-05-2011 but intra day showed whole day consolidations 5459-5473 and Nifty rallied 99.00 points on 31-05-2011. Range of 5459-5473 was proved strong support on 30-05-2011 with following intraday chart and conclusions in following topic on 30-05-2011:-
30-05-2011 in Nifty-Micro Analysis of Intra Day Chart For 31-05-2011:-
Just go through and analyse intraday chart of 30-05-2011 to understand the strength of support(5459-5473):-
Nifty-Intra Day Chart(30-05-2011):-
30-05-2011 in Nifty-Micro Analysis of Intra Day Chart For 31-05-2011:-
Just go through and analyse intraday chart of 30-05-2011 to understand the strength of support(5459-5473):-
Nifty-Intra Day Chart(30-05-2011):-
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Main Features
1- Support,base formation and consolidation between 5459-5473
2- Although Nity slipped from higher levels continuously 5 times but Patterns are showing consolidations
3- Whole day intraday consolidation
Conclusions
Nifty closed exactly at 5,473.10 today and intraday patterns of today are suggesting whole day consolidations therefore upmoves with continuous consolidations possibility is high.
Conclusions
Nifty closed exactly at 5,473.10 today and intraday patterns of today are suggesting whole day consolidations therefore upmoves with continuous consolidations possibility is high.