Nifty-Intra Day Chart(Apr 09 & Apr 10,2012):-
Technical Patterns and Formations in today intraday charts
1- More than 4 hours trading between 5245-5263 on 09-04-2012
2- Almost whole day trading and sustaining below 5245-5263 on 10-04-2012
3- Selling between 5229-5255
4- Minor support between 5212-5225
Following lines were told yesterday in Pre-Closing Outlook(10-04-2012)
more than 4 hours trading range(5245-5263) of yesterday has been broken down today and until Nifty will not sustain above 5263 till then next up move will not be considered.
As intraday selling again seen on 10-04-2012 also therefore more down moves are possible after melting global markets cues. Good supports above 5175 and its survival is at stake today therefore should be firstly watched today.
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1- More than 4 hours trading between 5245-5263 on 09-04-2012
2- Almost whole day trading and sustaining below 5245-5263 on 10-04-2012
3- Selling between 5229-5255
4- Minor support between 5212-5225
Conclusions from 2 days intra day chart analysis
Following lines were told yesterday in Pre-Closing Outlook(10-04-2012)
more than 4 hours trading range(5245-5263) of yesterday has been broken down today and until Nifty will not sustain above 5263 till then next up move will not be considered.
As intraday selling again seen on 10-04-2012 also therefore more down moves are possible after melting global markets cues. Good supports above 5175 and its survival is at stake today therefore should be firstly watched today.