Nifty-Micro Analysis of Intra Day Chart For 23-12-2011
Nifty-Intra Day Chart(22-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 4635-4663
2- Rising Channel rally
3-Channel broken down in last 10 minutes minor Rising Wedge(Bearish Pattern) formation in last half hour.
4- Whole day trading between 4632-4740
Conclusions from intra day chart analysis
As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week.
Nifty-Intra Day Chart(22-dec-2011):-
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1- Consolidation between 4635-4663
2- Rising Channel rally
3-Channel broken down in last 10 minutes minor Rising Wedge(Bearish Pattern) formation in last half hour.
4- Whole day trading between 4632-4740
Conclusions from intra day chart analysis
As Bearish pattern in last half hour therefore more consolidation and minor intraday correction is firstly required and tomorrow may be consolidation day but expected that Pull Back Rally will remain continued in the next week.