Nifty-Micro Analysis of Intra Day Chart For 13-02-2012
Nifty-Intra Day Chart(10-Feb-2012):-
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Technical Patterns and Formations in today intraday charts
1- Selling between 5410-5427
2- Mixed Patterns between 5342-5382 in last more than 3 hours
3- Whole day trading between 5342-5427
Conclusions from intra day chart analysis
Firstly selling between 5410-5427 was seen after heated sentiment due to last hour sharp surge one day before. Although Nifty slipped to 5341.05 but when Nifty was trading at 5409 then following lines were told in Mid-session Outlook at 11:29:00 AM on 10-02-2012
"Although Nifty is trading above 5400 since opening today but intraday patterns are signalling selling patterns also at today higher levels"
Last 3 hours mixed intraday patterns were seen 5342-5382 on 10-02-2012 and more than 5 hours mixed intraday patterns were seen in almost same range within 5325-5380 on 09-02-2012 therefore range of 5325-5382 has become most crucial and will give following moves confirmations:-
1- Correction completion within 5 days sideways moves(5323-5427) after fresh consolidation between 5325-5382.
2- Depper correction after follow up selling between or near about 5325-5382 on next Monday and then breaking down of 5 days range(5323-5427).
Although deeper correction possibilities turned higher after higher levels selling and lower levels mixed patterns but next big decisive moves first strong signal will arrive from sustaining beyond 5325-5382 on 13-02-2012 and should be firstly watched for confirmations.