Nifty-Micro Analysis of 4 days Intra Day Chart
(Apr 24 to Apr 27,2012)
Nifty-Intra Day Chart (Apr 24 to Apr 27,2012):-
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1- More rhan 4 hours selling between 5208-5232 on 24-04-2012.
2- More rhan 2 hours selling between 5215-5236 on 25-04-2012.
3- Support between 5161-5195 on 25-04-2012.
4- Whole day sideways trading with intraday consolidation patterns between 5180-5210 on 26-04-2012.
5- Lower levels intraday support after whole day mixed intraday patterns
Conclusions from 4 days intra day chart analysis
4 Days sideways narrow range trading within 81 points between 5155-5236 means big moves are being cooked between this range and blasting moves will be seen after its break out.
Firstly selling at higher levels but lower levels supports and consolidations also seen in last 4 days therefore it is clear that market is not prepared for any side decisive break out and some more preparations are also required for any side decisive break out.
Market is not mature for any side decisive break out therefore market will firstly trade and prepare for next moves within 5155-5236. As lower levels good supports seen therefore expected that finally strong rally above 5236 will be seen after some more consolidations in the coming sessions.