Nifty-Intra Day Chart (17-Dec-2012):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves with continuous selling.
2- Whole day actual trading between 5850-5885.
Pre-open Outlook(18-12-2012)
Most Asian markets are positive today after good rally in US markets yesterday and positive opening will be seen in Indian markets. As selling yesterday therefore expected that Nifty will firstly hover around yesterday trading range(5850-5886). RBI Credit policy will finally drive Indian markets and up moves will be seen only after any surprising positive announcements otherwise Indian markets are technically prepared for some more down moves.
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1- Whole day down moves with continuous selling.
2- Whole day actual trading between 5850-5885.
Conclusions from intra day chart analysis
As Whole day down moves after continuous selling therefore down moves are expected.
Pre-open Outlook(18-12-2012)
Most Asian markets are positive today after good rally in US markets yesterday and positive opening will be seen in Indian markets. As selling yesterday therefore expected that Nifty will firstly hover around yesterday trading range(5850-5886). RBI Credit policy will finally drive Indian markets and up moves will be seen only after any surprising positive announcements otherwise Indian markets are technically prepared for some more down moves.