Nifty-Intra Day Chart(13-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5275-5305
2- Sharp fall after negative news from Europe.
3- Panic bottom formation after sharp fall.
4- Mixed Patterns between 5200-5236
5- Whole day trading between 5185.40-5306.75 with weekly highest and lowest formation.
Firstly intraday selling developed between 5275-5305 after poor performance and below expectations guidance by INFY and after that sharp fall seen in which Nifty lost more than 70 points within 7 minutes.
Sharp fall resultant Panic bottom formation and after that more than 1 hour trading with mixed patterns between 5200-5236. As intraday support after panic bottom can not be ruled out therefore firstly sustaining beyond mixed Patterns range(5200-5236) will be firstly watched in the beginning of next week.
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1- Selling between 5275-5305
2- Sharp fall after negative news from Europe.
3- Panic bottom formation after sharp fall.
4- Mixed Patterns between 5200-5236
5- Whole day trading between 5185.40-5306.75 with weekly highest and lowest formation.
Conclusions from intra day chart analysis
Firstly intraday selling developed between 5275-5305 after poor performance and below expectations guidance by INFY and after that sharp fall seen in which Nifty lost more than 70 points within 7 minutes.
Sharp fall resultant Panic bottom formation and after that more than 1 hour trading with mixed patterns between 5200-5236. As intraday support after panic bottom can not be ruled out therefore firstly sustaining beyond mixed Patterns range(5200-5236) will be firstly watched in the beginning of next week.