Nifty-Intra Day Chart (15-Oct-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5653-5664
2- Consolidation patterns between 5673-5684
3- Whole day acual trading between 5653-5692
Although intraday up moves started after 12:50PM but when Indian markets were trading near the lows of the day then intraday supports getting possibility was updated in Mid-session Outlook today at 11:53AM and following line was told:-
"lower levels supports can not be ruled out today'
Intraday consolidation at lower levels after weak opening and again follow up intraday consolidation patterns were also seen at higher levels today therefore expected that today started up moves will remain continued tomorrow also but strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion.
As rally continuation hopes emerged after today good intraday consolidations therefore following lines were told in Pre-Closing Outlook today and being repeated for final conclusions:-
"trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756"
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1- Consolidation between 5653-5664
2- Consolidation patterns between 5673-5684
3- Whole day acual trading between 5653-5692
Conclusions from intra day chart analysis
Although intraday up moves started after 12:50PM but when Indian markets were trading near the lows of the day then intraday supports getting possibility was updated in Mid-session Outlook today at 11:53AM and following line was told:-
"lower levels supports can not be ruled out today'
Intraday consolidation at lower levels after weak opening and again follow up intraday consolidation patterns were also seen at higher levels today therefore expected that today started up moves will remain continued tomorrow also but strong resistances between 5700-5733 and follow up consolidation is must for decisive rally above 5733/5756 after on going correction completion.
As rally continuation hopes emerged after today good intraday consolidations therefore following lines were told in Pre-Closing Outlook today and being repeated for final conclusions:-
"trading between 5674-5691 for the last 2 hours with intraday consolidation patterns therefore expected that today started up moves will remain continued tomorrow but decisive rally after on going correction completion will get confirmation after sustaining above 5733/5756"