Technical Analysis and Research of EOD and weekly charts,Technical Positions,next possibilities have already been explained in following topics with 2 Charts therefore not being repeated:-
Rally above 5400 in next week
Nifty-Intra Day Chart(Nov 04,2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5303-5323
2- Buying between 5257-5284
3- Whole day Intraday Patterns are showing consolidation formations.
4- Whole day trading between 5257-5323
Conclusions
Next Supports and Resistances are as follows:-
1- Previous Supports are between 5203-5224
2- Previous Resistances are between 5318-5365
Higher levels selling and lower levels equally buying therefore expected that Nifty will firstly trade between last Friday range( 5257-5323). Whole day Intraday Patterns are showing consolidation formations last Friday and correction completion signals also therefore finally rally is expected in the coming sessions.
Rally above 5400 in next week
Nifty-Intra Day Chart(Nov 04,2011):-
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| Just click on chart for its enlarged view |
1- Selling between 5303-5323
2- Buying between 5257-5284
3- Whole day Intraday Patterns are showing consolidation formations.
4- Whole day trading between 5257-5323
Conclusions
Next Supports and Resistances are as follows:-
1- Previous Supports are between 5203-5224
2- Previous Resistances are between 5318-5365
Higher levels selling and lower levels equally buying therefore expected that Nifty will firstly trade between last Friday range( 5257-5323). Whole day Intraday Patterns are showing consolidation formations last Friday and correction completion signals also therefore finally rally is expected in the coming sessions.