Nifty-Intra Day Chart(02-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Whole day without force up moves
2- Whole day trading between 5285-5331
Whole day without force up moves and selling possibilities in such types of trading patterns can not be ruled out therefore view is cautious and clear consolidation patterns are required near about today trading range for fresh sustainable up moves above today trading range.
Long term trend survived on 29-03-2012,Short term trend turned up on 30-03-2012 and Intermediate term trend is sideways for the last 25 sessions and will be up above 5400.
Sustaining beyond today trading range should be firstly watched for next moves confirmations but expected that finally Rally above 5331 will be seen after 1/2 sessions consolidation near about today trading range.
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1- Whole day without force up moves
2- Whole day trading between 5285-5331
Conclusions from intra day chart analysis
Whole day without force up moves and selling possibilities in such types of trading patterns can not be ruled out therefore view is cautious and clear consolidation patterns are required near about today trading range for fresh sustainable up moves above today trading range.
Long term trend survived on 29-03-2012,Short term trend turned up on 30-03-2012 and Intermediate term trend is sideways for the last 25 sessions and will be up above 5400.
Sustaining beyond today trading range should be firstly watched for next moves confirmations but expected that finally Rally above 5331 will be seen after 1/2 sessions consolidation near about today trading range.