Technical Analysis and Research For 09-09-2011 & Next Week
Nifty-EOD Chart(08-Sep-2011):-
Technical Patterns and Formations in EOD charts
1- Trend Reversal Inverted Head & Shoulders Pattern under construction
2- Neckline at 5230
Conclusions
Trend Reversal Inverted Head & Shoulders Pattern is under construction,its Neckline is at 5230. Next crucial resistance is just below it within 5120-5220 and Nifty consolidated nicely between this range today.
Pull Back rally is on and expected that follow up consolidation will be seen in the coming sessions and sharp rally will be seen after crossing of Neckline at 5230.
Nifty-EOD Chart(08-Sep-2011):-
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| Just click on chart for its enlarged view |
1- Trend Reversal Inverted Head & Shoulders Pattern under construction
2- Neckline at 5230
Conclusions
Trend Reversal Inverted Head & Shoulders Pattern is under construction,its Neckline is at 5230. Next crucial resistance is just below it within 5120-5220 and Nifty consolidated nicely between this range today.
Pull Back rally is on and expected that follow up consolidation will be seen in the coming sessions and sharp rally will be seen after crossing of Neckline at 5230.