Nifty-Intra Day Chart(11-Oct-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5030-5040.
2- Selling between 5005-5017.
3- Minor intraday support between 4968-4978.
4- Whole day trading between 4964-5045
Conclusions
Profit booking possibility was clearly told before the opening of market in Pre-open Outlook(11-10-2011) and it was seen also as well as markets closed in Red after loosing more than 1% gains. Clear selling at higher levels therefore complete consolidation is required for any type of up moves and follow up selling as well as sustaining below 4964 will be confirmation 4 days old Pull back rally termination with sharp fall as well.
Good higher level selling but minor intraday support at lower level also between 4968-4978 therefore firstly sustaining beyond this range will be watched for next moves confirmation despite whatsoever Infosys Tech. Quarterly results and mentioned 10 points range will decide the fate of 4 days old Pull back rally.
 |
| Just click on chart for its enlarged view |
1- Selling between 5030-5040.
2- Selling between 5005-5017.
3- Minor intraday support between 4968-4978.
4- Whole day trading between 4964-5045
Conclusions
Profit booking possibility was clearly told before the opening of market in Pre-open Outlook(11-10-2011) and it was seen also as well as markets closed in Red after loosing more than 1% gains. Clear selling at higher levels therefore complete consolidation is required for any type of up moves and follow up selling as well as sustaining below 4964 will be confirmation 4 days old Pull back rally termination with sharp fall as well.
Good higher level selling but minor intraday support at lower level also between 4968-4978 therefore firstly sustaining beyond this range will be watched for next moves confirmation despite whatsoever Infosys Tech. Quarterly results and mentioned 10 points range will decide the fate of 4 days old Pull back rally.