Nifty-Intra Day Chart(05-Mar-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5305-5322
2- Minor intraday support between 5267-5280
3- Whole day trading between 5267-5322
Technically Intermediate term trend turning down strong indication through:-
Continuous Whole day down moves below intermediate term trend decider 5340 today with intraday selling patterns immediately after opening between 5305-5322 today
Although minor intraday support between 5267-5280 today but good selling at higher levels therefore technically high possibility of more down moves to test next support levels in the coming sessions. As down moves possibility was alive therefore following topic was updated on 03-03-2012:-
Just click above topic link and prepare for trading after understanding all crucial levels
Assembly results Uncertainity led volatility can not be ruled out tomorrow and in such situations technical positins reverses also therefore sustaining beyond today trading range(5267-5322) should be firstly watched for next moves confirmations.
Indian markets will only be effected by Congress conclusive gains/loss and change of dependence on other parties. As it may trigger next trend also therefore implications of Assembly results should be understood under this purview also because it may also give final confirmation to the 7 sessions struggling Intermediate term trend.
If anything miraculous come out from Assembly results tomorrow then any up moves will be expected otherwise Indian markets are technically prepared for more down moves in the coming sessions.
 |
| Just click on chart for its enlarged view |
1- Selling between 5305-5322
2- Minor intraday support between 5267-5280
3- Whole day trading between 5267-5322
Conclusions from intra day chart analysis
Technically Intermediate term trend turning down strong indication through:-
Continuous Whole day down moves below intermediate term trend decider 5340 today with intraday selling patterns immediately after opening between 5305-5322 today
Although minor intraday support between 5267-5280 today but good selling at higher levels therefore technically high possibility of more down moves to test next support levels in the coming sessions. As down moves possibility was alive therefore following topic was updated on 03-03-2012:-
Just click above topic link and prepare for trading after understanding all crucial levels
Assembly results Uncertainity led volatility can not be ruled out tomorrow and in such situations technical positins reverses also therefore sustaining beyond today trading range(5267-5322) should be firstly watched for next moves confirmations.
Indian markets will only be effected by Congress conclusive gains/loss and change of dependence on other parties. As it may trigger next trend also therefore implications of Assembly results should be understood under this purview also because it may also give final confirmation to the 7 sessions struggling Intermediate term trend.
If anything miraculous come out from Assembly results tomorrow then any up moves will be expected otherwise Indian markets are technically prepared for more down moves in the coming sessions.