Nifty-Intra Day Chart (08-Oct-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5720-5733.
2- Whole day acual trading between 5668-5733
Conclusions from intra day chart analysis
Firstly more than 3 hours side ways trading between 5715-5733 with intraday selling patterns between 5720-5733 and after that beginning of slow down moves. Nifty got supports between 5707-5730 last Friday and firstly intraday selling between this range before breaking down of next suppport at 5707.
As follow up selliing seen below 5707 also therefore expected that Nifty will sustain below it and last Friday begun correction will remain continued.
Next strong supports are between 5639-5680 and Nifty traded last 23 minutes within this range. As follow up selling seen above this range therefore expected that Nifty will again trade near about this range finally sustaining beyond this range will give on going correction continuation/completion confirmations.
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1- Selling between 5720-5733.
2- Whole day acual trading between 5668-5733
Conclusions from intra day chart analysis
Firstly more than 3 hours side ways trading between 5715-5733 with intraday selling patterns between 5720-5733 and after that beginning of slow down moves. Nifty got supports between 5707-5730 last Friday and firstly intraday selling between this range before breaking down of next suppport at 5707.
As follow up selliing seen below 5707 also therefore expected that Nifty will sustain below it and last Friday begun correction will remain continued.
Next strong supports are between 5639-5680 and Nifty traded last 23 minutes within this range. As follow up selling seen above this range therefore expected that Nifty will again trade near about this range finally sustaining beyond this range will give on going correction continuation/completion confirmations.