Nifty-Intra Day Chart(03-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5363-5377
2- Selling between 5357-5363
3- Support between 5347-5353
4- Minor support between 5347-5353
3- Whole day trading between 5347-5377
Good selling at higher levels and minor supports also at lower levels today. As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels. As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
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1- Selling between 5363-5377
2- Selling between 5357-5363
3- Support between 5347-5353
4- Minor support between 5347-5353
3- Whole day trading between 5347-5377
Conclusions from intra day chart analysis
Good selling at higher levels and minor supports also at lower levels today. As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels. As Whole day without force up moves and selling possibilities like intraday patterns between 5285-5331 were seen yesterday also therefore testing or slipping below this range can not be ruled out in the coming sessions.
Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.