Nifty-Micro Analysis of Intra Day Chart For
27-07-2012
Nifty-Intra Day Chart (26-Jul-2012):- |
| Just click on chart for its enlarged view |
1- 5 Hours selling between 5092-5110
2- Sharp fall
3- Whole day trading between 5033-5110
Conclusions from intra day chart analysis
Although sharp down moves begun after 5 hours but we clearly told for selling in following line at 11:28:00 AM in Mid-session Outlook:-
"Intraday charts have started to show selling signals"
We told only for down moves in all the last 4 days outlooks and it was seen also yesterday.
As strong closing in Us markets yesterday therefore sentiment will be strong today morning and Indian markets will trade positive after strong opening today.
Genuine 5 hours selling between 5092-5110 yesterday and market require complete consolidations to sustain above 5110 as well as sustaining it above is not expected despite whatsoever strong sentiment today.
5110 is Laxman Rekha and firstly watch sustaining it beyond for next moves confirmations today.