Nifty-Intra Day Chart(22-Nov-2011):-
Technical Patterns and Formations in today intraday charts
1- Buying between 4784-4810
2- Selling between 4825-4852
3- Whole day trading between 4783-4854
Conclusions from intra day chart analysis
Although higher levels good selling but lower levels buying also seen therefore view will not be bearish despite slipping from higher levels. Nifty traded between(4783-4854) today and immediate crucial ranges beyond these two ranges are as follows;-
1- Support range within and below today trading range 4745-4800
2- Resistance range within and above today trading range 4850-4868
Expected that Nifty will firstly move within 4745-4868 tomorrow and finally break out and sustaining beyond this range as well as will give following decisive conclusions;-
1- Below 4745 will mean high possibility of crashing like situations
2- Above 4868 will mean fresh up moves within 63 sessions range(4720-5229)
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1- Buying between 4784-4810
2- Selling between 4825-4852
3- Whole day trading between 4783-4854
Conclusions from intra day chart analysis
Although higher levels good selling but lower levels buying also seen therefore view will not be bearish despite slipping from higher levels. Nifty traded between(4783-4854) today and immediate crucial ranges beyond these two ranges are as follows;-
1- Support range within and below today trading range 4745-4800
2- Resistance range within and above today trading range 4850-4868
Expected that Nifty will firstly move within 4745-4868 tomorrow and finally break out and sustaining beyond this range as well as will give following decisive conclusions;-
1- Below 4745 will mean high possibility of crashing like situations
2- Above 4868 will mean fresh up moves within 63 sessions range(4720-5229)