Technical Analysis,Researches & Market Outlook(24-08-2011)

Nifty-Micro Analysis of Intra Day Chart For 24-08-2011

Nifty-Intra Day Chart(23-Aug-2011):-

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Technical Patterns and Formations in today intraday charts

1- Good consolidation between 4863-4898.
2- Selling between 4952-4963.
3- Consolidation Patterns between 4929-4952
4- Whole day trading between 4863-4965

Conclusions

Firstly rally after good lower level consolidation and then again consolidation Patterns between 4929-4952 after 90 minutes higher levels Selling between 4952-4963. As consolidation Patterns again seen at higher levels therefoe continuation of rally expected tomorrow.