Nifty-Intra Day Chart(01-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Whole day mixed patterns between 4920-4980
2- Whole day trading between 4920-4980
Conclusions from intra day chart analysis
Firstly lower levels consolidations in previous 5 sessions and after that more than 3% gap up opening was seen today. As today huge gap up was on the back of global global blasting markets also therefore sentiment was heated and market slipped from higher levels. Profit booking possibility can not be ruled out today but intraday trading patterns are showing consolidation patterns therefore confirmation is required from sustaining beyond today trading range.
In fact we never add anything from our side and whatsoever market shows so tells always. We told following line before the closing of today market in Pre-Closing Outlook today:-
Nifty traded most of the time between 4920-4980 with intraday mixed pattrens
Our intraday mixed pattrens analysis proved 100% accurate today FII AND DII trading data is confirming it which was updated in nseindis.com after 05:30 PM today;-
1- FII are net buyers by Rs.687.26 Crores
2- DII are net sellers by Rs.713.08 Crores
Almost equal buying and selling positions of today by FII and DII therefore both buying and selling positions were created today and we told for intraday mixed patterns before the closing of today market as well as declaration of above data.
Market require complete intraday selling patterns for reversal of on going rally but it was not seen today. Although intraday consolidation patterns today but market could not hold at higher levels also and slipped therefore mixed intraday patterns today and follow up tomorrow intraday moves will give first indication and finally sustaining beyond today trading range(4920-4980) will give next moves confirmations.
Above conclusions are only from today intraday charts analysis. other analysis and possibilities will be updated in next outlook before beginning of tomorrow trading hours.
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1- Whole day mixed patterns between 4920-4980
2- Whole day trading between 4920-4980
Conclusions from intra day chart analysis
Firstly lower levels consolidations in previous 5 sessions and after that more than 3% gap up opening was seen today. As today huge gap up was on the back of global global blasting markets also therefore sentiment was heated and market slipped from higher levels. Profit booking possibility can not be ruled out today but intraday trading patterns are showing consolidation patterns therefore confirmation is required from sustaining beyond today trading range.
In fact we never add anything from our side and whatsoever market shows so tells always. We told following line before the closing of today market in Pre-Closing Outlook today:-
Nifty traded most of the time between 4920-4980 with intraday mixed pattrens
Our intraday mixed pattrens analysis proved 100% accurate today FII AND DII trading data is confirming it which was updated in nseindis.com after 05:30 PM today;-
1- FII are net buyers by Rs.687.26 Crores
2- DII are net sellers by Rs.713.08 Crores
Almost equal buying and selling positions of today by FII and DII therefore both buying and selling positions were created today and we told for intraday mixed patterns before the closing of today market as well as declaration of above data.
Market require complete intraday selling patterns for reversal of on going rally but it was not seen today. Although intraday consolidation patterns today but market could not hold at higher levels also and slipped therefore mixed intraday patterns today and follow up tomorrow intraday moves will give first indication and finally sustaining beyond today trading range(4920-4980) will give next moves confirmations.
Above conclusions are only from today intraday charts analysis. other analysis and possibilities will be updated in next outlook before beginning of tomorrow trading hours.