Nifty-Intra Day Chart(23-Jan-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5044-5058 after Selling between 5035-5053 last Friday
2- Hanging Man like Bearish candle today after Hanging Man / Dragonfly Doji (Bearish)Candle last Friday.
3- Whole day trading between 5030-5058
Conclusions from intra day chart analysis
Today and last Friday intraday selling positions have been updated above. We don't about RBI Credit tomorrow but expected that Indian markets will finally move down after announcement of Credit Policy. As uncertainity therefore Market may be volatile but until Nifty will not sustain above sustain above 5058 till then any up move will not be considered.
Sustaining beyond following ranges will be next moves confirmation therefore may be watched also for confirmations:-
1- 5030-5058(First strong indication)
2- 5004-5064(Confirmation)
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1- Selling between 5044-5058 after Selling between 5035-5053 last Friday
2- Hanging Man like Bearish candle today after Hanging Man / Dragonfly Doji (Bearish)Candle last Friday.
3- Whole day trading between 5030-5058
Conclusions from intra day chart analysis
Today and last Friday intraday selling positions have been updated above. We don't about RBI Credit tomorrow but expected that Indian markets will finally move down after announcement of Credit Policy. As uncertainity therefore Market may be volatile but until Nifty will not sustain above sustain above 5058 till then any up move will not be considered.
Sustaining beyond following ranges will be next moves confirmation therefore may be watched also for confirmations:-
1- 5030-5058(First strong indication)
2- 5004-5064(Confirmation)