Nifty-Intra Day Chart (10-Sep-2012):-
Technical Patterns and Formations in today intraday charts
1- Support between 5349-5358
2- Selling between 5362-5373
3- Whole day trading between 5349-5375
As both higher levels selling and lower levels buying were seen yesterday therefore following lines were told in Pre-Closing Outlook yesterday and being repeated today:-
"Next move first strong signal will be forceful break out or sustaining beyond 5350-5375 and should be firstly watched"
Pre-open Outlook(11-09-2012)
US markets closed in Red at the lowest of the day yesterday therefore sentiment weakened and most Asian markets are trading negative today morning as well as some opened gap down also. As depressed sentiment today and higher levels selling in Indian markets yesterday therefore firstly negative zone trading will be seen after weaker opening today.
Intraday supports were also seen 5349-5358 yesterday and sustaining below 5349 will be more down moves confirmations. Strong up moves were seen on 07-09-2012 after lower levels good consolidations as well as strong supports were also seen. Following supports should be firstly watched for today started down moves completion/continuation confirmations;-
1- 5310-5325
2- 5260-5310(Gap support of 07-09-2012)
3- 5220-5230(Strong support)
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1- Support between 5349-5358
2- Selling between 5362-5373
3- Whole day trading between 5349-5375
Conclusions from intra day chart analysis
As both higher levels selling and lower levels buying were seen yesterday therefore following lines were told in Pre-Closing Outlook yesterday and being repeated today:-
"Next move first strong signal will be forceful break out or sustaining beyond 5350-5375 and should be firstly watched"
Pre-open Outlook(11-09-2012)
US markets closed in Red at the lowest of the day yesterday therefore sentiment weakened and most Asian markets are trading negative today morning as well as some opened gap down also. As depressed sentiment today and higher levels selling in Indian markets yesterday therefore firstly negative zone trading will be seen after weaker opening today.
Intraday supports were also seen 5349-5358 yesterday and sustaining below 5349 will be more down moves confirmations. Strong up moves were seen on 07-09-2012 after lower levels good consolidations as well as strong supports were also seen. Following supports should be firstly watched for today started down moves completion/continuation confirmations;-
1- 5310-5325
2- 5260-5310(Gap support of 07-09-2012)
3- 5220-5230(Strong support)