Nifty-Intra Day Chart (30-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Support between 5222-5262
2- Support between 5236-5245
3- Selling between 5253-5262
4- Whole day trading between5222-5262
Nifty traded more than 5 hours above 5236(resistance) with good support at lower levels and minor selling formations at higher levels. As good support seen above 5236 therefore expected that fresh Pull Back Rally will begin now to test next resistances near 5300.
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1- Support between 5222-5262
2- Support between 5236-5245
3- Selling between 5253-5262
4- Whole day trading between5222-5262
Conclusions from intra day chart analysis
Nifty traded more than 5 hours above 5236(resistance) with good support at lower levels and minor selling formations at higher levels. As good support seen above 5236 therefore expected that fresh Pull Back Rally will begin now to test next resistances near 5300.