Nifty-Intra Day Chart(Ju1 11 to Jul 22,2011):-
Technical Patterns and Formations in last 10 sessions intraday charts
1- Last 10 days trading range 5497-5653 and closing is at 5634 on 22-07-2011
2- Consolidation between 5505-5581 in last 10 sessions.
3- Last 4 hours intraday consolidations between 5606-5636 but little selling at higher levels on 22-07-2011.
Conclusions
As 4 hours consolidation patterns at the top of last 10 sessions range and also closing near the top of last 10 days therefore posssibility of fresh rally turned higher last Friday and confirmation is sustaining above 5636.
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1- Last 10 days trading range 5497-5653 and closing is at 5634 on 22-07-2011
2- Consolidation between 5505-5581 in last 10 sessions.
3- Last 4 hours intraday consolidations between 5606-5636 but little selling at higher levels on 22-07-2011.
Conclusions
As 4 hours consolidation patterns at the top of last 10 sessions range and also closing near the top of last 10 days therefore posssibility of fresh rally turned higher last Friday and confirmation is sustaining above 5636.