Nifty-Intra Day Chart (Jan 08 to Jan 10,2013):-
Long and Intermediate term trends are up and Short term trend is sideways for the last 7 sessions between 5948-6026. Nifty slipped below most Crucial and next up trend saviour 5965 in previous 3 sessions but recovered closed also above it in all 3 sessions.
Trading positions around 5965 in next 3 sessions are as follows:-
1- 08-01-2013- Lowest was and 5964.40 closed at 6001.70
2- 09-01-2013- Lowest was and 5958.45 closed at 5971.50
3- 10-01-2013- Lowest was and 5947.30 closed at 5968.65
Importance of 5965 has already been updated on 07-01-2013 in "5965 is most Crucial for Bulls on 08-01-2013" and following line was specially told:-
"Sub Wave-3 should not dip or minimum close below the top of Sub Wave-1(5965)"
As closing above 5965 in all 3 sessions therefore technically on going rally(impulsive Sub Wave-3) is safe.
Nifty-Intra Day Chart (10-Jan-2013):-
Technical Patterns and Formations in today intraday charts
1- Most of the time trading between Bullish Falling Channel.
2- 3 Smaller Bullish Falling Channels formation within broader Bullish Falling Channel.
3- Whole day actual trading between 5947-5997
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| Just click on chart for its enlarged view |
Conclusions from 3 Sessions intra day chart analysis
Long and Intermediate term trends are up and Short term trend is sideways for the last 7 sessions between 5948-6026. Nifty slipped below most Crucial and next up trend saviour 5965 in previous 3 sessions but recovered closed also above it in all 3 sessions.
Trading positions around 5965 in next 3 sessions are as follows:-
1- 08-01-2013- Lowest was and 5964.40 closed at 6001.70
2- 09-01-2013- Lowest was and 5958.45 closed at 5971.50
3- 10-01-2013- Lowest was and 5947.30 closed at 5968.65
Importance of 5965 has already been updated on 07-01-2013 in "5965 is most Crucial for Bulls on 08-01-2013" and following line was specially told:-
"Sub Wave-3 should not dip or minimum close below the top of Sub Wave-1(5965)"
As closing above 5965 in all 3 sessions therefore technically on going rally(impulsive Sub Wave-3) is safe.
Nifty-Intra Day Chart (10-Jan-2013):-
 |
| Just click on chart for its enlarged view |
1- Most of the time trading between Bullish Falling Channel.
2- 3 Smaller Bullish Falling Channels formation within broader Bullish Falling Channel.
3- Whole day actual trading between 5947-5997
Conclusions from intra day chart analysis
Whole day down moves but with Bullish pattern formations therefore finally rally above 5965 & 6026 will be seen in the coming sessions despite whatsoever INFY 3rd Quarter financial results and IIP numbers tomorrow.