Nifty-Intra Day Chart (23-Apr-2012):-
Technical Patterns and Formations in today intraday charts
1- More than 2 hours selling between 5288-5310
2- Continuous down moves
3- More down moves after minor up moves.
4- Whole day trading between 5188-5310
All the Benchmark Indices closed more than 1.50% down on 23-04-2012 and proved our following following projections 100% accurate:-
1- We told in Pre-Closing Outlook on 20-04-2012:-
"more down moves are expected now."
2- We told in Correction continuation & Supports Testing in Next Week at 05:45:00 AM on 23-04-2012;-
"more down moves are expected in the coming sessions"
"more down moves as well as testing of above mentioned next supports are possible in the coming week"
(1st support at 5184 was given in above outlook and lowest was at 5187.15 on 23-04-2012)
3- We told in Mid-session Outlook on 23-04-2012:-
"more down moves can not be ruled out"
Correction is very much on from 22-02-2012 and its detailed analysis and next possibilities have already been updated yesterday with EOD chart. Yesterday mentioned 1st support(5184) has almost been tested yesterday. As 2nd Support(5136) testing possibility can not been ruled out also and 200-Day SMA is lying today at 5137 therefore importance of this level has already been updated in following topic today. Just click following topic link and understand understand most crucial levels;-
Next Trend decider & Most Crucial 200-Day SMA
Intraday indicatiors are oversold after yesterday sharp fall therefore Pull Back rally and intraday volatility is possible today. Market require complete consolidations and base formations before the beginning of any decisive up move and rally,let it happen then fresh up moves after correction completion will be considered.
Strong resistances above 5288 and next supports are between 5136 and 5184. Expected that next trend story will be written between 5136-5288 and volatile market with next moves preparation within this range will be seen in the coming sessions.
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1- More than 2 hours selling between 5288-5310
2- Continuous down moves
3- More down moves after minor up moves.
4- Whole day trading between 5188-5310
Conclusions from intra day chart analysis
All the Benchmark Indices closed more than 1.50% down on 23-04-2012 and proved our following following projections 100% accurate:-
1- We told in Pre-Closing Outlook on 20-04-2012:-
"more down moves are expected now."
2- We told in Correction continuation & Supports Testing in Next Week at 05:45:00 AM on 23-04-2012;-
"more down moves are expected in the coming sessions"
"more down moves as well as testing of above mentioned next supports are possible in the coming week"
(1st support at 5184 was given in above outlook and lowest was at 5187.15 on 23-04-2012)
3- We told in Mid-session Outlook on 23-04-2012:-
"more down moves can not be ruled out"
Correction is very much on from 22-02-2012 and its detailed analysis and next possibilities have already been updated yesterday with EOD chart. Yesterday mentioned 1st support(5184) has almost been tested yesterday. As 2nd Support(5136) testing possibility can not been ruled out also and 200-Day SMA is lying today at 5137 therefore importance of this level has already been updated in following topic today. Just click following topic link and understand understand most crucial levels;-
Next Trend decider & Most Crucial 200-Day SMA
Intraday indicatiors are oversold after yesterday sharp fall therefore Pull Back rally and intraday volatility is possible today. Market require complete consolidations and base formations before the beginning of any decisive up move and rally,let it happen then fresh up moves after correction completion will be considered.
Strong resistances above 5288 and next supports are between 5136 and 5184. Expected that next trend story will be written between 5136-5288 and volatile market with next moves preparation within this range will be seen in the coming sessions.