Nifty-Intra Day Chart(15-Feb-2012):-
1- Gap up opening.
2- Whole day up moves in rising channel with minor intraday corrections.
3- Intraday correction and continuation of rally
4- Whole day trading between 5472-5540
Indian markets are Bullish and whole sentiment reversed in less than 2 months with all trends turning up. Bullish markets following correction character has been updated many times:-
1- Correction at higher levels.
2- Correction within sideways moves.
3- Correction only after complete distribution patterns.
7 sessions sideways correction completion after gap up opening on 15-02-2012 and continuation of rally also. Until complete distribution patterns minimum on EOD Charts with intraday selling patterns will not be seen till then any correction will not be seen.
Rally is continued and expected that next resistances between 5600-5700 will be tested in the coming sessions.
 |
| Just click on chart for its enlarged view |
Technical Patterns and Formations in today intraday charts
1- Gap up opening.
2- Whole day up moves in rising channel with minor intraday corrections.
3- Intraday correction and continuation of rally
4- Whole day trading between 5472-5540
Conclusions from intra day chart analysis
Indian markets are Bullish and whole sentiment reversed in less than 2 months with all trends turning up. Bullish markets following correction character has been updated many times:-
1- Correction at higher levels.
2- Correction within sideways moves.
3- Correction only after complete distribution patterns.
7 sessions sideways correction completion after gap up opening on 15-02-2012 and continuation of rally also. Until complete distribution patterns minimum on EOD Charts with intraday selling patterns will not be seen till then any correction will not be seen.
Rally is continued and expected that next resistances between 5600-5700 will be tested in the coming sessions.