Nifty-Intra Day Chart(17-Nov-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5020-5035
2- Free fall seen below 5010
3- Whole day trading between 4920-5036
Conclusions from intra day chart analysis
Technical positions have already been explained in Technical Analysis,Researches & Market Outlook(17-11-2011) and following lines were also told after selling indications at 12:01:00 PM in Mid-session Outlook-2
"Selling indications between 5020-5035 and until Nifty will not sustain above 5035 till then up moves will not be considered"
Finally free fall seen today after breaking down of strong support range(5010-5100). Next supports are as follows:-
1- 4845-4900
2- 4745-4800
Testing of above supports are possible in the coming sessions and next big trend decider is lowest of previous 54 sessions range(4720).
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1- Selling between 5020-5035
2- Free fall seen below 5010
3- Whole day trading between 4920-5036
Conclusions from intra day chart analysis
Technical positions have already been explained in Technical Analysis,Researches & Market Outlook(17-11-2011) and following lines were also told after selling indications at 12:01:00 PM in Mid-session Outlook-2
"Selling indications between 5020-5035 and until Nifty will not sustain above 5035 till then up moves will not be considered"
Finally free fall seen today after breaking down of strong support range(5010-5100). Next supports are as follows:-
1- 4845-4900
2- 4745-4800
Testing of above supports are possible in the coming sessions and next big trend decider is lowest of previous 54 sessions range(4720).