Nifty-Intra Day Chart (05-Dec-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5908-5917
2- Whole day actual trading between 5892-5917
Following line was told today at 10:37 AM in Post-open Outlook-2:-
Although Gap up opening today after completely Bullish sentiment due to strong Global cues but condition of sustaining above 5900 was told in all the Outlooks today. As we suspected same happened,Indian markets could not sustain above 5900 and slipped after intraday selling at higher levels.
Expected that Nifty will slip below today lowest(5892) and minimum very short Term correction will be seen tomorrow despite Congress victory on FDI issue in Parliament today.
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1- Selling between 5908-5917
2- Whole day actual trading between 5892-5917
Conclusions from intra day chart analysis
Following line was told today at 10:37 AM in Post-open Outlook-2:-
Expected that Nifty will firstly hover around 5900
Nifty closed at 5,900.50 today.
Although Gap up opening today after completely Bullish sentiment due to strong Global cues but condition of sustaining above 5900 was told in all the Outlooks today. As we suspected same happened,Indian markets could not sustain above 5900 and slipped after intraday selling at higher levels.
Expected that Nifty will slip below today lowest(5892) and minimum very short Term correction will be seen tomorrow despite Congress victory on FDI issue in Parliament today.