Nifty-Intra Day Chart (18-Dec-2012):-
Technical Patterns and Formations in intraday chart
1- Panic bottom formation after RBI Credit policy.
2- Consolidation between 5880-5905
3- Whole day actual trading between 5824-5905
As intraday consolidation patterns formations after panic bottom formation seen therefore following conclusive lines were told yesterday in Pre-Closing Outlook(18-12-2012) and being repeated for today market:-
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.
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1- Panic bottom formation after RBI Credit policy.
2- Consolidation between 5880-5905
3- Whole day actual trading between 5824-5905
Technical Patterns and Formations in intraday chart
As intraday consolidation patterns formations after panic bottom formation seen therefore following conclusive lines were told yesterday in Pre-Closing Outlook(18-12-2012) and being repeated for today market:-
Long term and Intermediate term trends are up and short Term sideways correction going on between 5823-5965 for the last 12 sessions. As correction completion strong indication after panic Bottom formation today therefore now possibility of rally continuation after today short Term correction completion,confirmation will be sustaining above 5920.