Nifty-Intra Day Chart (27-Sep-2012):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5680-5693
2- Down moves in Falling Channel.
3- Intraday patterns are showing consolidation indications
3- Whole day acual trading between5639-5693
Correction in this week after 12 sessions 505 Nifty points rally in previous couple of weeks. Firstly selling between 5680-5693 and today closing near the lower levels of the day but down moves in Falling Channel and Intraday patterns are showing consolidation indications also.
Lower levels consolidation and higher levels selling in 4 previous sessions but no lower levels intra day supports and consolidation today. As consolidation between 5639-5670 yesterday and Nifty closed also within this range today therefore Sustaining beyond 5639 should be firstly watched tomorrow for correction continuation or completion first indication.
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1- Selling between 5680-5693
2- Down moves in Falling Channel.
3- Intraday patterns are showing consolidation indications
3- Whole day acual trading between5639-5693
Conclusions from intra day chart analysis
Correction in this week after 12 sessions 505 Nifty points rally in previous couple of weeks. Firstly selling between 5680-5693 and today closing near the lower levels of the day but down moves in Falling Channel and Intraday patterns are showing consolidation indications also.
Lower levels consolidation and higher levels selling in 4 previous sessions but no lower levels intra day supports and consolidation today. As consolidation between 5639-5670 yesterday and Nifty closed also within this range today therefore Sustaining beyond 5639 should be firstly watched tomorrow for correction continuation or completion first indication.