Nifty-Intra Day Chart (30-Oct-2012):-
Nifty-Intra Day Chart (31-Oct-2012):-
Technical Patterns and Formations in above 2 intraday charts
1- Last more than 4 hours trading between 5590-5615 with higher levels intraday selling patterns on 30-10-2012.
2- Whole day trading between 5583-5624 on 31-10-2012.
3- Last 2 hours trading with Bearish Rising Wedge formation on 31-10-2012.
4- Whole day intraday selling patterns formation on 31-10-2012 despite closing near day's high.
4- More than 10 hours trading between 5583-5624 in last 2 sessions with intraday selling patterns formations.
Although Indian markets closed near the highs of the day with Green closing today but sufficient selling formations between 5583-5624 in last 2 sessions therefore high possibility of sustaining below the lowest(5583) of above mentioned 10 hours trading range.
Expected that finally NIfty will sustain below 5583 and on going correction will remain continued in the coming sessions.
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1- Last more than 4 hours trading between 5590-5615 with higher levels intraday selling patterns on 30-10-2012.
2- Whole day trading between 5583-5624 on 31-10-2012.
3- Last 2 hours trading with Bearish Rising Wedge formation on 31-10-2012.
4- Whole day intraday selling patterns formation on 31-10-2012 despite closing near day's high.
4- More than 10 hours trading between 5583-5624 in last 2 sessions with intraday selling patterns formations.
Conclusions from intra day charts analysis
Although Indian markets closed near the highs of the day with Green closing today but sufficient selling formations between 5583-5624 in last 2 sessions therefore high possibility of sustaining below the lowest(5583) of above mentioned 10 hours trading range.
Expected that finally NIfty will sustain below 5583 and on going correction will remain continued in the coming sessions.