Nifty-Intra Day Chart (09-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Down moves in Falling Channel without much selling and showing consolidation indications
2- Support between 5313-5323
3- Whole day trading between 5313-5368
As Most of the time down moves without much selling and showing consolidation signals,except this lower levels intraday supports also therefore on going rally continuation hopes are alive despite lower levels closing today.
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1- Down moves in Falling Channel without much selling and showing consolidation indications
2- Support between 5313-5323
3- Whole day trading between 5313-5368
Conclusions from intra day chart analysis
As Most of the time down moves without much selling and showing consolidation signals,except this lower levels intraday supports also therefore on going rally continuation hopes are alive despite lower levels closing today.
Both selling and buying positions in last 2 sessions within 5,313-5377 and sustaining it beyond should be firstly watched in the coming sessions for next moves confirmations.