Nifty-Intra Day Chart(09-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between- 4844-4882
2- Selling between- 4900-4917
3- Whole day trading between 4844-4917
Conclusions from intra day chart analysis
Following moves and conclusions from intraday charts were projected today:-
1-Mid-session Outlook-"Consolidation signals emerged at lower levels today therefore short term up moves are expected and correction completion confirmation will be after sustaining above 4890"
2- Pre-Closing Outlook-"today intraday patterns are showing consolidation indications therefore upmoves hopes from today lower levels are alive despite more than 1.5% down closing today"
Although higher levels selling but whole day intraday patterns are showing consolidations therefore finally rally is expected in next week after correction completion today at 4841.75.
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1- Consolidation between- 4844-4882
2- Selling between- 4900-4917
3- Whole day trading between 4844-4917
Conclusions from intra day chart analysis
Following moves and conclusions from intraday charts were projected today:-
1-Mid-session Outlook-"Consolidation signals emerged at lower levels today therefore short term up moves are expected and correction completion confirmation will be after sustaining above 4890"
2- Pre-Closing Outlook-"today intraday patterns are showing consolidation indications therefore upmoves hopes from today lower levels are alive despite more than 1.5% down closing today"
Although higher levels selling but whole day intraday patterns are showing consolidations therefore finally rally is expected in next week after correction completion today at 4841.75.