Nifty-Micro Analysis of Intra Day Chart For 18-01-2012
Nifty-Intra Day Chart(17-Jan-2011):-
Technical Patterns and Formations in today intraday charts
1- Whole day up moves in Channel and lacking force.
2- Minor selling between 4965-4975
3- Whole day trading between 4925-4975
Conclusions from intra day chart analysis
Intraday patterns are suggesting selling formations also despite 1.92% positive closing therefore market require more consolidations before decisive up moves. Although US markets are trading more than 1% up today and European markets also closed with good gains therefore sentiment may be heated tomorrow morning but expected that Nifty will trade within today intraday trading range(4925-4975) and for consolidation slipping below 4925 possibility also can not be ruled out in the coming sessions.
Intraday correction firstly expected tomorrow and follow up buying/selling near about and within 4925-4975 will pave the way of next short term trend and sustaining beyond mentioned range will give next moves confirmations.
Firstly watch sustaining beyond 4925-4975 for next moves confirmations.
Nifty-Intra Day Chart(17-Jan-2011):-
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1- Whole day up moves in Channel and lacking force.
2- Minor selling between 4965-4975
3- Whole day trading between 4925-4975
Conclusions from intra day chart analysis
Intraday patterns are suggesting selling formations also despite 1.92% positive closing therefore market require more consolidations before decisive up moves. Although US markets are trading more than 1% up today and European markets also closed with good gains therefore sentiment may be heated tomorrow morning but expected that Nifty will trade within today intraday trading range(4925-4975) and for consolidation slipping below 4925 possibility also can not be ruled out in the coming sessions.
Intraday correction firstly expected tomorrow and follow up buying/selling near about and within 4925-4975 will pave the way of next short term trend and sustaining beyond mentioned range will give next moves confirmations.
Firstly watch sustaining beyond 4925-4975 for next moves confirmations.