Nifty-Intra Day Chart(22-Jul-2011):-
Technical Patterns and Formations in today intraday charts
1- Buying between- 5568-5581
2- Last 4 hours intraday consolidations between 5606-5636 but little selling at higher levels.
Conclusions
Nifty traded last 4 hours between resistance range of 5606-5636 and intraday charts are suggesting most of the time consolidations. Although minor selling felt at higher levels but expected that Nifty will finally sustain above 5636 and rally will be seen in the next week.
As news based violent global voltality is being seen therefore sustaining beyond 5606-5636 will be watched first for next move confirmations.
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1- Buying between- 5568-5581
2- Last 4 hours intraday consolidations between 5606-5636 but little selling at higher levels.
Conclusions
Nifty traded last 4 hours between resistance range of 5606-5636 and intraday charts are suggesting most of the time consolidations. Although minor selling felt at higher levels but expected that Nifty will finally sustain above 5636 and rally will be seen in the next week.
As news based violent global voltality is being seen therefore sustaining beyond 5606-5636 will be watched first for next move confirmations.