Nifty-Intra Day Chart(15-dec-2011):-
Technical Patterns and Formations in today intraday charts
1- Support between 4675-4700
2- Last more than one hour consolidation at higher level between 4735-4762
3- Whole day intraday consolidation formations.
4- Whole day trading between 4675-4767
Conclusions from intra day chart analysis
Up moves after lower levels consolidation and after that last more than one hour again consolidation today therefore more up moves are expected in the coming sessions.
Although multiple resistances at higher levels and decisive rally will get confirmation after sustaining above minimum next resistance(4800-4838) but minimum its testing and positive markets expected tomorrow because today whole day intraday patterns are showing consolidation formations.
Expected that Nifty will finally sustain above 4838 after today bottom formation and let it happen then next moves will be discussed.
 |
| Just click on chart for its enlarged view |
1- Support between 4675-4700
2- Last more than one hour consolidation at higher level between 4735-4762
3- Whole day intraday consolidation formations.
4- Whole day trading between 4675-4767
Conclusions from intra day chart analysis
Up moves after lower levels consolidation and after that last more than one hour again consolidation today therefore more up moves are expected in the coming sessions.
Although multiple resistances at higher levels and decisive rally will get confirmation after sustaining above minimum next resistance(4800-4838) but minimum its testing and positive markets expected tomorrow because today whole day intraday patterns are showing consolidation formations.
Expected that Nifty will finally sustain above 4838 after today bottom formation and let it happen then next moves will be discussed.