Nifty-Intra Day Chart (12-Sep-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5410-5415.
2- Volatility after ESM package favouring SC judgement news from Germany.
3- Upmoves in Bearish Rising Wedge formation.
3- Whole day trading between 5394-5434.
Firstly slipping after intraday selling and then volatility after ESM package favouring SC judgement news from Germany, As higher levels selling in first 2 hours and finally Upmoves in Bearish Rising wedge formations in last more than one hour therefore fresh consolidation is required for sustaining above yesterday trading range.
All trends are up and up moves continuation but Nifty is trading between strong resistance range(5380-5450). As intraday charts of yesterday are showing selling formations therefore consolidations are must today for sustaining and rally above 5450.
Pre-open Outlook(13-09-2012)
Almost flat Global markets today therefore sentiment is quiet today morning and firstly trading is expected between 5394-5450,follow up buying/selling today will decide next decisive moves beyond mentioned strong resistance range.
 |
| Just click on chart for its enlarged view |
1- Selling between 5410-5415.
2- Volatility after ESM package favouring SC judgement news from Germany.
3- Upmoves in Bearish Rising Wedge formation.
3- Whole day trading between 5394-5434.
Conclusions from intra day chart analysis
Firstly slipping after intraday selling and then volatility after ESM package favouring SC judgement news from Germany, As higher levels selling in first 2 hours and finally Upmoves in Bearish Rising wedge formations in last more than one hour therefore fresh consolidation is required for sustaining above yesterday trading range.
All trends are up and up moves continuation but Nifty is trading between strong resistance range(5380-5450). As intraday charts of yesterday are showing selling formations therefore consolidations are must today for sustaining and rally above 5450.
Pre-open Outlook(13-09-2012)
Almost flat Global markets today therefore sentiment is quiet today morning and firstly trading is expected between 5394-5450,follow up buying/selling today will decide next decisive moves beyond mentioned strong resistance range.