Nifty-Intra Day Chart (29-May-2012):-
Technical Patterns and Formations in today intraday charts
1- Support between 4983-4998
2- Selling between 5010-5020
3- Whole day trading between 4983-5020
Whole day trading within 37 Nifty points with lower levels supports and higher levels selling as well as intraday volatility. Following Bullish developments on 28-05-2012:-
1- 13 sessions trading range break out with force above 4960.
2- Trend reversal Bullish Inverted Head & Shoulders pattern's neckline crossing also at 4960.
For detailed analysis with chart just click following link:-
Inverted Head & Shoulders Bullish Formations in Intraday charts
Although Indian markets lost all intraday gains and closed near the lows of the day today but lower levels supports not broken therefore Bullish hopes are still alive.
Firstly sustaining beyond today trading range and finally sustaining above 4960/5020 will be strong Pull Back Rally confirmations and it is expected also in the coming sessions.
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1- Support between 4983-4998
2- Selling between 5010-5020
3- Whole day trading between 4983-5020
Conclusions from intra day chart analysis
Whole day trading within 37 Nifty points with lower levels supports and higher levels selling as well as intraday volatility. Following Bullish developments on 28-05-2012:-
1- 13 sessions trading range break out with force above 4960.
2- Trend reversal Bullish Inverted Head & Shoulders pattern's neckline crossing also at 4960.
For detailed analysis with chart just click following link:-
Inverted Head & Shoulders Bullish Formations in Intraday charts
Although Indian markets lost all intraday gains and closed near the lows of the day today but lower levels supports not broken therefore Bullish hopes are still alive.
Firstly sustaining beyond today trading range and finally sustaining above 4960/5020 will be strong Pull Back Rally confirmations and it is expected also in the coming sessions.