Nifty-Intra Day Chart(17-Oct-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5135-5155
2- Selling between 5121-5133
3- Last 3 hours mixed patterns between 5108-5125
4- Whole day trading between 5086-5155
Nifty-Intra Day Chart(Oct 13 to Oct 17,2011):-
Technical Patterns and Formations in last 3 sessions intraday charts
1- Last 3 days trading between 5070-5155
2- Buying,Selling and Mixed intraday patterns in last 3 days.
Conclusions
Lower levels buying,higher levels selling and also mixed intraday patterns in last 3 days. When all the global markets were blasting then we did not posted bullish views because strong resistance at higher levels between 5145-5220.
US markets are more than 1.75% down at this moment then also we are not bearish because pure selling patterns not seen in last 3 days and it has also been shown in above charts.
Expected that sentiment will be depressed today morning and weak opening will be seen in Indian markets also. Nifty traded between 5080-5155 in last 3 days and sustaining below 5080 is must for the confirmation of 7 days old pull back rally termination.
Violent volatility in Global markets nowadays. US markets were more than 1.5% up last Friday and today down in same pct terms. Indian markets did not responded strong Global cues yesterday and closed with minor loss. Let Indian markets react Global weakness then Indian markets reaction will be understood and will be updated in the Blog as lesser strength was told within first 2 minutes yesterday.
Only watch that Nifty is sustaining below 5080 or not after weak opening today. Something cooked between 5080-5155 in last 3 days and sustaining beyond this range will be next strong moves confirmation therefore will be watched firstly today.
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| Just click on chart for its enlarged view |
1- Selling between 5135-5155
2- Selling between 5121-5133
3- Last 3 hours mixed patterns between 5108-5125
4- Whole day trading between 5086-5155
Nifty-Intra Day Chart(Oct 13 to Oct 17,2011):-
 |
| Just click on chart for its enlarged view |
1- Last 3 days trading between 5070-5155
2- Buying,Selling and Mixed intraday patterns in last 3 days.
Conclusions
Lower levels buying,higher levels selling and also mixed intraday patterns in last 3 days. When all the global markets were blasting then we did not posted bullish views because strong resistance at higher levels between 5145-5220.
US markets are more than 1.75% down at this moment then also we are not bearish because pure selling patterns not seen in last 3 days and it has also been shown in above charts.
Expected that sentiment will be depressed today morning and weak opening will be seen in Indian markets also. Nifty traded between 5080-5155 in last 3 days and sustaining below 5080 is must for the confirmation of 7 days old pull back rally termination.
Violent volatility in Global markets nowadays. US markets were more than 1.5% up last Friday and today down in same pct terms. Indian markets did not responded strong Global cues yesterday and closed with minor loss. Let Indian markets react Global weakness then Indian markets reaction will be understood and will be updated in the Blog as lesser strength was told within first 2 minutes yesterday.
Only watch that Nifty is sustaining below 5080 or not after weak opening today. Something cooked between 5080-5155 in last 3 days and sustaining beyond this range will be next strong moves confirmation therefore will be watched firstly today.