Nifty-Intra Day Chart(18-Nov-2011):-
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1- Consolidation between 4839-4874
2- Last 40 minutes mixed Patterns between 4891-4908
3- Intraday consolidation patterns
4- Whole day trading between 4839-4908
Conclusions from intra day chart analysis
Nifty traded whole day between 4839-4908 and following line was told in Pre-open Outlook(18-11-2011):-
"Testing,firstly trading and next moves preparation within yesterday mentioned 1st support range (4845-4900) will be seen today"
Nifty traded almost whole day within mentioned 1st support range and prepare for next moves.
Following line was told in Mid-session Outlook-2
"Lower levels support and intraday patterns are indicating consolidation formations"
Firstly more than 4 hours consolidation and after that up moves in last one hour and Nifty crossed as well as closed above 4900. Market got good support within mentioned 1st support range and necely consolidated as well therefore short term up moves possibilities are high. As last 40 minutes mixed Patterns between 4891-4908 therefore sustaining above 4900 should be firstly watched next Monday for short term up moves confirmations.