Post-open Outlook(1910-2011)
Nifty-EOD Chart(18-Oct-2011):-
Technical Patterns and Formations in EOD charts
1- 49 Sessions range bound market between 4720-5229
2- Gap of resistance 18-10-2011(5058-5085)
3- 3 Days range bound market within 5070-5155
Conclusions
Indian markets consolidated at lower levels yesterday and it was updated during trading hours yesterday in Pre-Closing Outlook and following lines were told:-
Although deep Red closing today but consolidation signals also in today intraday patterns therefore view should be bearish after sustaining below 5012.
Following lines were told yesterday in Nifty-Micro Analysis of Intra Day Chart For 19-10-2011
As whole day consolidation patterns today therefore positive market as well as up moves continuation expected tomorrow.
Gap up opening today and Nifty is trading within mentioned 3 Days range bound market of 5070-5155 in which mixed patterns were seen between 13th oct to 17th oct 2011.
Follow up buying,up moves and positive market expected today.
Nifty-EOD Chart(18-Oct-2011):-
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1- 49 Sessions range bound market between 4720-5229
2- Gap of resistance 18-10-2011(5058-5085)
3- 3 Days range bound market within 5070-5155
Conclusions
Indian markets consolidated at lower levels yesterday and it was updated during trading hours yesterday in Pre-Closing Outlook and following lines were told:-
Although deep Red closing today but consolidation signals also in today intraday patterns therefore view should be bearish after sustaining below 5012.
Following lines were told yesterday in Nifty-Micro Analysis of Intra Day Chart For 19-10-2011
As whole day consolidation patterns today therefore positive market as well as up moves continuation expected tomorrow.
Gap up opening today and Nifty is trading within mentioned 3 Days range bound market of 5070-5155 in which mixed patterns were seen between 13th oct to 17th oct 2011.
Follow up buying,up moves and positive market expected today.