Technical Analysis and Market Outlook(27-12-2012)

Nifty-Micro Analysis of 2 Sessions Intra Day Chart

(Dec 24 & Dec 27,2012)

Nifty-Intra Day Chart (Dec 24 & Dec 27,2012):-

Just click on chart for its enlarged view

Technical Patterns and Formations in last 2 Sessions intraday charts

1- Consolidation and Support between 5846-5865 in last 2 sessions.
2- More than 3 hours mixed intraday patterns between 5900-5917 on 26-12-2012
3- 2 Sessions actual trading between 5846-5917

Conclusions from 2 Sessions intra day chart analysis 

Sharp up moves yesterday after good supports between 5846-5865 in last 2 sessions and coutering of next and last resistance range(5910-5965) of on going rally. Although Nifty traded within mentioned resistance range but with intraday mixed patterns and closed just below it. As strong resistances therefore complete consolidation is required for valid break out above 5965. Finally rally above 5865 is expected but firstly follow up consolidations is must in the coming sessions to cross and sustaining above mentioned strong resistance.

Now next moves preparation trading range is 5865-5965 in all types of sentiments and firstly trading within this range is expected in the coming couple of sessions. Let intraday charts form and show next moves preparations then will be updated accordingly in the coming Outlooks.