Technical Analysis and Research of EOD and Intra day charts,Technical Positions,next possibilities have already been explained in following topics on 23-09-2011 with 2 Charts therefore not being repeated:-
1- Nifty-Micro Analysis of Intra Day Chart For 26-09-2011
2- 4720 Survival Today will Decide Next Long Moves & Trend
It is very much clear that Indian markets are range bound for the last 33 sessions and its break out will decide next long term trend. All trends are down,Indian markets are in the tight grip of Bears and forceful break out or sustaining above 5229 will be first strong indication of last 10 months correction completion. Slipping below 4720 will mean new phase of sharp down moves. As range bound markets therefore short term targets should remain within range with stop loss beyond range.
Nifty traded most of the time and closed between 4832-4929 on 23-09-2011 with lower levels consolidations and higher levels minor selling, As whole day intraday patterns are showing consolidation formations last Friday therefore technically upmoves possibilities are high in the beginning of this week. Indian markets tumbled and correction begun amid crashing Global markets cues but last Friday consolidation patterns are showing correction completion signals.
Indian markets are Bearish and market never like confusion but there is lot of uncertainities after the disclosure of Pranab Mukherjee and Murasoli Maran letters to P.M. therefore follow up buying and sustaining above 4920 is must today for any type of up move confirmations.
Crucial Empty Zone between 4720-4832 in last 33 trading range and no strong support below it,selling development due to above mentioned negative news may result commencement of fresh down moves therefore sustaining beyond last Friday trading range(4832-4929) should be firstly watched amid UPA internal fight like depressing sentiment and that will be next moves confirmations.
1- Nifty-Micro Analysis of Intra Day Chart For 26-09-2011
2- 4720 Survival Today will Decide Next Long Moves & Trend
It is very much clear that Indian markets are range bound for the last 33 sessions and its break out will decide next long term trend. All trends are down,Indian markets are in the tight grip of Bears and forceful break out or sustaining above 5229 will be first strong indication of last 10 months correction completion. Slipping below 4720 will mean new phase of sharp down moves. As range bound markets therefore short term targets should remain within range with stop loss beyond range.
Nifty traded most of the time and closed between 4832-4929 on 23-09-2011 with lower levels consolidations and higher levels minor selling, As whole day intraday patterns are showing consolidation formations last Friday therefore technically upmoves possibilities are high in the beginning of this week. Indian markets tumbled and correction begun amid crashing Global markets cues but last Friday consolidation patterns are showing correction completion signals.
Indian markets are Bearish and market never like confusion but there is lot of uncertainities after the disclosure of Pranab Mukherjee and Murasoli Maran letters to P.M. therefore follow up buying and sustaining above 4920 is must today for any type of up move confirmations.
Crucial Empty Zone between 4720-4832 in last 33 trading range and no strong support below it,selling development due to above mentioned negative news may result commencement of fresh down moves therefore sustaining beyond last Friday trading range(4832-4929) should be firstly watched amid UPA internal fight like depressing sentiment and that will be next moves confirmations.