Pre-open Outlook(07-12-2011)
Sideways Indian markets between 4720-5229 for the last 69 Sessions and at present short term trend is up. Nifty closed above 55-Day EMA(today at 5033) and near the higher levels of resistance range of 5000-5060. Sustaining above 5060 will be confirmation of good strength and Intermediate term trend turning up. Just click follwing link for detailed analysis with EOD chart:-
Rally is on after Trend Reversal Broadening Pattern Support
Nifty-Micro Analysis of Intra Day Chart For 07-12-2011
Nifty-Intra Day Chart(05-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5003-5033
2- Minor selling between 5038-5052
3- Whole day trading between 5003-5055
Conclusions from intra day chart analysis
Although minor selling at higher levels between 5038-5052 but intraday patterns are showing good consolidation formations at lower levels last Monday. Short term up trend is already on and continuation of rally is expected in the coming sessions after previous session good intraday consolidations.
Market Outlook(07-12-2011)
All the Asian markets are positive today morning after weaker closing yesterday therefore sentiment is maintained and good today morning. Expexcted that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.
Sideways Indian markets between 4720-5229 for the last 69 Sessions and at present short term trend is up. Nifty closed above 55-Day EMA(today at 5033) and near the higher levels of resistance range of 5000-5060. Sustaining above 5060 will be confirmation of good strength and Intermediate term trend turning up. Just click follwing link for detailed analysis with EOD chart:-
Rally is on after Trend Reversal Broadening Pattern Support
Nifty-Micro Analysis of Intra Day Chart For 07-12-2011
Nifty-Intra Day Chart(05-dec-2011):-
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| Just click on chart for its enlarged view |
1- Consolidation between 5003-5033
2- Minor selling between 5038-5052
3- Whole day trading between 5003-5055
Conclusions from intra day chart analysis
Although minor selling at higher levels between 5038-5052 but intraday patterns are showing good consolidation formations at lower levels last Monday. Short term up trend is already on and continuation of rally is expected in the coming sessions after previous session good intraday consolidations.
Market Outlook(07-12-2011)
All the Asian markets are positive today morning after weaker closing yesterday therefore sentiment is maintained and good today morning. Expexcted that Indian markets will be finally positive and also close in Green above previous session trading range after follow up consolidation today.