Nifty-Intra Day Chart (28-Aug-2012):-
Technical Patterns and Formations in today intraday charts
1- Consolidation between 5314-5340
2- Whole day trading between 5314-5352
Almost whole day consolidation with lower levels intraday supports also and rally expected without sustaining below 5314.
Pre-open Outlook(29-08-2012)
Asian markets are mixed with minor positive/negative zone trading after US markets flat closing yesterday therefore firstly trading between above mentioned yesterday trading range. As good consolidation yesterday therefore finally rally is expected above 5352.
Next crucial support at 5294 and until Nifty will not sustain below it till then any deeper correction will not be considered and sustaining above 5340 will be rally beginning confirmation after on going correction completion.
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1- Consolidation between 5314-5340
2- Whole day trading between 5314-5352
Conclusions from intra day chart analysis
Almost whole day consolidation with lower levels intraday supports also and rally expected without sustaining below 5314.
Pre-open Outlook(29-08-2012)
Asian markets are mixed with minor positive/negative zone trading after US markets flat closing yesterday therefore firstly trading between above mentioned yesterday trading range. As good consolidation yesterday therefore finally rally is expected above 5352.
Next crucial support at 5294 and until Nifty will not sustain below it till then any deeper correction will not be considered and sustaining above 5340 will be rally beginning confirmation after on going correction completion.