Nifty-Intra Day Chart(15-Nov-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5127-5257
2- Last 52 minutes mixed Patterns between 5060-5083
3- Whole day trading between 5053-5158
Conclusions
Firstly more than 4 hours selling and after that trading between atrong support range(5010-5100) with mixed Patterns between 5060-5083 therefore expected that Nifty will firstly trade between this range. Although some more down moves possibility in consolidation process can not be ruled out but Nifty traded with mixed intraday patterns between strong support range therefore trading between 5010-5100 should be firstly watched for next moves confirmations.
As last 52 minutes mixed Patterns therefore expected that Nifty will finally get support between mentioned strong support range and Nifty will trade above 5100.
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1- Selling between 5127-5257
2- Last 52 minutes mixed Patterns between 5060-5083
3- Whole day trading between 5053-5158
Conclusions
Firstly more than 4 hours selling and after that trading between atrong support range(5010-5100) with mixed Patterns between 5060-5083 therefore expected that Nifty will firstly trade between this range. Although some more down moves possibility in consolidation process can not be ruled out but Nifty traded with mixed intraday patterns between strong support range therefore trading between 5010-5100 should be firstly watched for next moves confirmations.
As last 52 minutes mixed Patterns therefore expected that Nifty will finally get support between mentioned strong support range and Nifty will trade above 5100.