Nifty-Intra Day Chart (08-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5338-5346
2- High volatility after GAAR news on Business news channels
3- Whole day trading between 5332-5377
As good supports at lower levels with intraday consolidation patterns therefore finally sustaining above 5365 possibility is alive but today intraday moves were affected by GAAR news on Business news channels. As soon as mentioned news was seen was seen then following lines were updated at 12:24:00 PM in Mid-session Outlook-2:-
GAAR news on Business news channels and some intraday volatility also. As technical positions reverses also due to news impact on crowd psychology therefore firstly watch sustaining beyond 5330-5365 for next trend confirmations
Although Nifty did not moved below 5330 but also could not sustain above 5365 and intraday selling on the back of mentioned news can not be ruled out. Confirmations are must through sustaining beyond 5330-5365 in the coming sessions.
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1- Consolidation between 5338-5346
2- High volatility after GAAR news on Business news channels
3- Whole day trading between 5332-5377
Conclusions from intra day chart analysis
As good supports at lower levels with intraday consolidation patterns therefore finally sustaining above 5365 possibility is alive but today intraday moves were affected by GAAR news on Business news channels. As soon as mentioned news was seen was seen then following lines were updated at 12:24:00 PM in Mid-session Outlook-2:-
GAAR news on Business news channels and some intraday volatility also. As technical positions reverses also due to news impact on crowd psychology therefore firstly watch sustaining beyond 5330-5365 for next trend confirmations
Although Nifty did not moved below 5330 but also could not sustain above 5365 and intraday selling on the back of mentioned news can not be ruled out. Confirmations are must through sustaining beyond 5330-5365 in the coming sessions.