Although Indian markets closed 1% down yesterday but bearish views were not posted and following lines were told yesterday in Nifty-Micro Analysis of Intra Day Chart For 26-08-2011
Although Indian markets slipped from higher levels and trading at lower levels but intraday trading patterns are not suggesting pure selling today and consolidation patterns are also seen in today intraday chart.
consolidation patterns were told for yesterday and Nifty is 25 points up and Sensex was 90 points up within first 45 minutes today.
Only following line was told again and again for watching:-
watch last 5 seesions support range(4798-4850)
Nifty is trading above 4850 and sustaining above it today will be confirmation of beginning of pull back rally after higher bottom formation therefore just watch it first of all.
Although Indian markets slipped from higher levels and trading at lower levels but intraday trading patterns are not suggesting pure selling today and consolidation patterns are also seen in today intraday chart.
consolidation patterns were told for yesterday and Nifty is 25 points up and Sensex was 90 points up within first 45 minutes today.
Only following line was told again and again for watching:-
watch last 5 seesions support range(4798-4850)
Nifty is trading above 4850 and sustaining above it today will be confirmation of beginning of pull back rally after higher bottom formation therefore just watch it first of all.