Nifty-Intra Day Chart (Feb 11 to Feb 13,2013):-
Technical Patterns and Formations in last 2 Sessions intraday charts
1- Consolidation between 5883-5900.
2- 2 Sessions most time trading between 5883-5915
3- 2 Sessions actual trading between 5883-5927
As 2 Sessions most time trading between 5883-5915 with lower levels good supports and consolidation patterns formations therefore this range broken out in last hour on 12-02-2013. Expected that Pull Back rally will be seen in the coming sessions but resistances are lying between 5930-5984 therefore fresh consolidation is required for sustaining above 5984 and market will take its complete time to complete consolidation process.
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1- Consolidation between 5883-5900.
2- 2 Sessions most time trading between 5883-5915
3- 2 Sessions actual trading between 5883-5927
Conclusions from 2 Sessions intra day chart analysis
As 2 Sessions most time trading between 5883-5915 with lower levels good supports and consolidation patterns formations therefore this range broken out in last hour on 12-02-2013. Expected that Pull Back rally will be seen in the coming sessions but resistances are lying between 5930-5984 therefore fresh consolidation is required for sustaining above 5984 and market will take its complete time to complete consolidation process.
Firstly Pull Back rally is expected and after sustaining above 5984 strong rally will be seen.