Nifty-Intra Day Chart(23-Sep-2011):-
Technical Patterns and Formations in today intra day charts
1- Consolidation between 4832-4881
2- Selling between 4900-4929
3- Whole day trading between 4832-4929
Conclusions
Lower levels good consolidations and minor selling at higher levels but whole day intraday patterns are showing consolidation formations therefore upmoves possibilities are high from next week. Indian markets tumbled and correction begun amid crashing Global markets cues but today consolidation patterns are showing correction completion signals.
Follow up buying is must next Monday and sustaining beyond today trading range(4832-4929) will be next moves confirmations.
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1- Consolidation between 4832-4881
2- Selling between 4900-4929
3- Whole day trading between 4832-4929
Conclusions
Lower levels good consolidations and minor selling at higher levels but whole day intraday patterns are showing consolidation formations therefore upmoves possibilities are high from next week. Indian markets tumbled and correction begun amid crashing Global markets cues but today consolidation patterns are showing correction completion signals.
Follow up buying is must next Monday and sustaining beyond today trading range(4832-4929) will be next moves confirmations.