Nifty-Intra Day Chart (Nov 02 & Nov 05,2012):-
 |
| Just click on chart for its enlarged view |
1- Selling between 5700-5710
2- Supports between 5680-5690
3- 2 Sessions trading between 5680-5710
Conclusions from 2 Sessions intra day chart analysis
Last 2 sessions sideways trading within 30 points between 5680-5710 after 33 points gap up last Friday with confirm selling between 5700-5710 and lower levels intraday supports formations also.
Follow up moves tomorrow will decide next trend and 2 sessions range(5680-5710) will give next following moves:-
1- As good selling and multiple resistances above 5700 therefore market require complete consolidations for step by step sustaining above 5700/5710/5733/5756/5815.
2- Breaking down below 5680 will mean firstly sharp down moves with retesting possibility of previous week lows.
As clear selling patterns between 5700-5710 and expected that Nifty will slip below 5680 despite intraday supports at lower levels in last 2 sessions and closing near intraday higher levels today.
29 Sessions sideways trading between 5583-5815 and next big moves will be seen after sustaining beyond this range.Expected that Nifty will not move above 5733 tomorrow and follow up selling will mean sharp fall below 5680.