Nifty-Intra Day Chart (27-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Whole day down moves in Falling Channel
2- Whole day trading between 5348-5389
Whole day down moves in Falling Channel which is consolidation formation also. As down moves without much selling and development of consolidation formations therefore expected that fresh up moves will start within 1/2 sessions after on going correction completion.
Pre-open Outlook(28-08-2012)
As all the Asian markets are moderately in Red today morning after almost flat closing in US markets therefore sentiment is little weaker and flat opening is expected in Indian markets. Long and Intermediate term Trends are up and short term trend will be down below 5342.
Correction continuation and its completion confirmation is required,firstly sustaining beyond 5342 should be watched today for Correction completion confirmation.
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1- Whole day down moves in Falling Channel
2- Whole day trading between 5348-5389
Conclusions from intra day chart analysis
Whole day down moves in Falling Channel which is consolidation formation also. As down moves without much selling and development of consolidation formations therefore expected that fresh up moves will start within 1/2 sessions after on going correction completion.
Pre-open Outlook(28-08-2012)
As all the Asian markets are moderately in Red today morning after almost flat closing in US markets therefore sentiment is little weaker and flat opening is expected in Indian markets. Long and Intermediate term Trends are up and short term trend will be down below 5342.
Correction continuation and its completion confirmation is required,firstly sustaining beyond 5342 should be watched today for Correction completion confirmation.