Nifty-Intra Day Chart (Jun 03 to Jun 042013):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Support between 5916-5932 on 03-06-2013.
2- Good selling between 5960-5981 on 04-06-2013.
3- 2 Sessions actual trading between 5911-6011.
Lower levels buying on 03-06-2013 but higher levels good selling also on 04-06-2013 therefore high possibility of down moves toward 5841.10 in the coming sessions. Following line was told with calculation of 5841.10 on 03-06-2013 in Mid-session Outlook:-
Pre-open Outlook(05-06-2013)
As negative closing in US markets yesterday therefore negative zone trading in being seen in Asian markets today and sentiment turned weak therefore Red opening will be seen in Indian markets. As already good selling yesterday therefore high possibility of slipping toward 5841.10.
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1- Support between 5916-5932 on 03-06-2013.
2- Good selling between 5960-5981 on 04-06-2013.
3- 2 Sessions actual trading between 5911-6011.
Conclusions from 2 Sessions intra day chart analysis
Lower levels buying on 03-06-2013 but higher levels good selling also on 04-06-2013 therefore high possibility of down moves toward 5841.10 in the coming sessions. Following line was told with calculation of 5841.10 on 03-06-2013 in Mid-session Outlook:-
on going Wave-C may retrace up to 5841.10(6133.75-292.65).
Pre-open Outlook(05-06-2013)
As negative closing in US markets yesterday therefore negative zone trading in being seen in Asian markets today and sentiment turned weak therefore Red opening will be seen in Indian markets. As already good selling yesterday therefore high possibility of slipping toward 5841.10.