Nifty-Intra Day Chart (25-Sep-2012):-
Technical Patterns and Formations in today intraday charts
1- Support between 5653-5670
2- Minor selling between 5682-5689
3- Intraday chart patterns are showing consolidations formations.
3- Whole day acual trading between 5653-5702
Most of the time today trading between 5653-5689 with intraday supports at lower levels and minor selling at higher levels. As today intraday chart of Nifty is showing consolidations formations also therefore correction completion possibility has arisen today.
All trends are up and last 3 sessions trading with higher levels selling and lower levels supports seen between 5653-5705. As Indicators on EOD Charts are overbought and Short term correction is due therefore it is being seen in last 2 sessions also through daily new intraday lows formations. As in Bullish rallies correction complets within narrow range moves therefore this possibility will also be considered because intraday supports at lower levels are also being seen in last 3 sessions.
Next moves preparation range of 5668-5705 was given on 22-09-2012 and Nifty traded as well as prepared for next moves between 5653-5709 in last 2 sessions. Although more selling at higher levels in both previous sessions but lower levels good supports also and intraday consolidation formations seen today therefore expected that Nifty will firstly trade and prepare for next moves near about 5653-5709 tomorrow,sustaining it beyond or forceful break out of this range will be deeper correction or correction completion confirmation and should be firstly watched in the coming sessions.
 |
| Just click on chart for its enlarged view |
1- Support between 5653-5670
2- Minor selling between 5682-5689
3- Intraday chart patterns are showing consolidations formations.
3- Whole day acual trading between 5653-5702
Conclusions from intra day chart analysis
Most of the time today trading between 5653-5689 with intraday supports at lower levels and minor selling at higher levels. As today intraday chart of Nifty is showing consolidations formations also therefore correction completion possibility has arisen today.
All trends are up and last 3 sessions trading with higher levels selling and lower levels supports seen between 5653-5705. As Indicators on EOD Charts are overbought and Short term correction is due therefore it is being seen in last 2 sessions also through daily new intraday lows formations. As in Bullish rallies correction complets within narrow range moves therefore this possibility will also be considered because intraday supports at lower levels are also being seen in last 3 sessions.
Next moves preparation range of 5668-5705 was given on 22-09-2012 and Nifty traded as well as prepared for next moves between 5653-5709 in last 2 sessions. Although more selling at higher levels in both previous sessions but lower levels good supports also and intraday consolidation formations seen today therefore expected that Nifty will firstly trade and prepare for next moves near about 5653-5709 tomorrow,sustaining it beyond or forceful break out of this range will be deeper correction or correction completion confirmation and should be firstly watched in the coming sessions.