Nifty-Micro Analysis of 4 days Intra Day Chart(Feb 06 to Feb 09,2012)
Nifty-Intra Day Chart(Feb 06 to Feb 08,2012):-
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| Just click on chart for its enlarged view |
Technical Patterns and Formations in last 4 sessions intraday charts
1- Selling between 5365-5395 in first 3 days.
2- Support between 5322-5355 in first 3 days.
3- Mixed patterns in first 3 days.
4- Last one hour trading between 5325-5380 on 08-02-2012
5- Whole day except last half trading between 5325-5380 on 09-02-2012 with intraday mixed patterns
6- Four days range forceful break out in last hour on 09-02-2012 despite mixed intraday trading almost whole day.
Conclusions from last 4 sessions intra day chart analysis
Higher levels selling and lower levels buying in first 3 sessions between 5322-5395 and again mixed intraday patterns trading within 5325-5380 upto 03:00 PM on 09-02-2012.
Forceful break out in last half hour on 09-02-2012 despite mixed intraday trading almost whole day before this break out.
Just watch firstly sustaining beyond 5395 in the coming couple of sessions and finally sustaining above 5395 will mean fresh strong rally after very short term correction completion in sideways moves between 5322-5395.
As Break out on 09-02-2012 is after 4 days mixed intraday trading patterns theredore firstly confirmation is requied through sustaining above 5395 in the coming couple of sessions.