Technical Analysis and Research For 13-04-2012
Nifty-EOD Chart(12-Apr-2012):-
 |
| Just click on chart for its enlarged view |
1- Gap formation on 09-04-2012.
2- Island formation in 4 days trading after gap down opening on 09-04-2012.
Conclusions from EOD chart analysis
Nifty-Intra Day Chart(Apr 09 to Apr 12,2012):-
 |
| Just click on chart for its enlarged view |
1- Support between 5192-5225
2- Whole day consolidation at the top of 4 days on 12-04-2012.
Conclusions from 4 days intra day chart analysis
Consolidations at the lower levels and at the top of last 4 days market also therefore Indian markets are well prepared for a rally after consolidation confirmations in last 4 days.
Nifty-Intra Day Chart(12-Apr-2012):-
 |
| Just click on chart for its enlarged view |
1- Consolidation patterns formations in whole day trading
2- Whole day trading between 5261-5289
Conclusions from intra day chart analysis
Following line was told in Rally after Bulls conquering of 5263
1- Expected that finally rally will be seen
2- Last 2 sessions supports between 5192-5225 and sustaining above 5263 will be strong indication of rally after correction completion but follow up consolidation is also required to cross resistances between 5236-5263.
Whole day 38 Nifty points trading with intraday consolidation patterns between 5261-5289 with most of the time trading above 5263 seen on 12-Apr-2012.
Conclusions (After Putting All Studies Together)
Intraday charts analysis of last 4 sessions of after gap down opening on 09-04-2012,are showing lower levels as well as higher levels consolidations.
All the Asian markets are positive today morning after US markets strong closing yesterday and gap up opening is expected in Indian markets. Whole day trading and sustaining above 5305.30(gap highest) will be confirmation of island reversal pattern formation as well as strong rally in the coming sessions.
As last 4 sessions sessions intraday patterns conclusion is consolidations therefore finally rally is expected after Trend reversal island reversal pattern confirmation despite below expectations results of Infosys today..