Nifty-Intra Day Chart (20-Sep-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5562-5581
2- Whole day acual trading between 5534-5581
Most of the time trading between 5562-5581 with intraday selling patterns yesterday. As intraday selling was seen in previous 2 sessions also therefore correction continuation possibility turned higher yesterday.
Pre-open Outlook(21-09-2012)
All Asian markets are in Green today morning and sentiment is good therefore positive opening is expected in Indian markets and expected that will firstly trade within yesterday trading range(5534-5581) but intraday selling yesterday and slipping possibility is stronger today. As intraday selling patterns in previous 3 sessions therefore until complete complete consolidation will not happen till then next upmove will not be seen and next moves confirmation range is sustaining beyond 5562-5640.
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1- Selling between 5562-5581
2- Whole day acual trading between 5534-5581
Conclusions from intra day chart analysis
Most of the time trading between 5562-5581 with intraday selling patterns yesterday. As intraday selling was seen in previous 2 sessions also therefore correction continuation possibility turned higher yesterday.
Pre-open Outlook(21-09-2012)
All Asian markets are in Green today morning and sentiment is good therefore positive opening is expected in Indian markets and expected that will firstly trade within yesterday trading range(5534-5581) but intraday selling yesterday and slipping possibility is stronger today. As intraday selling patterns in previous 3 sessions therefore until complete complete consolidation will not happen till then next upmove will not be seen and next moves confirmation range is sustaining beyond 5562-5640.