Nifty-Intra Day Chart (22-Apr-2013):-
Technical Patterns and Formations in today intraday charts
1- Selling between 5820-5833.
2- Support between 5795-5810.
3- Bearish Rising Wedge formations in last hour.
4- Whole day actual trading between 5795-5844.
All Trends are up,next strong resistances are between 5820-5965 and yesterday whole day trading at lower levels of this range with lower levels supports and higher levels selling with Bearish Rising Wedge formations in last hour therefore follow up consolidation is must for further up moves and follow up selling today will mean Short Term correction after valid breaking down of yesterday lowest(5795).
Pre-open Outlook(23-04-2013)
Although US markets closed positive with minor gains but Asian markets are in Red today morning therefore sentiment is mixed and trading is expected within yesterday trading range after flat to negative opening today. Follow up moves and valid break out of yesterday actual trading range(5795-5844) should be firstly watched for next very short term moves confirmations.
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1- Selling between 5820-5833.
2- Support between 5795-5810.
3- Bearish Rising Wedge formations in last hour.
4- Whole day actual trading between 5795-5844.
Conclusions from intra day chart analysis
All Trends are up,next strong resistances are between 5820-5965 and yesterday whole day trading at lower levels of this range with lower levels supports and higher levels selling with Bearish Rising Wedge formations in last hour therefore follow up consolidation is must for further up moves and follow up selling today will mean Short Term correction after valid breaking down of yesterday lowest(5795).
Pre-open Outlook(23-04-2013)
Although US markets closed positive with minor gains but Asian markets are in Red today morning therefore sentiment is mixed and trading is expected within yesterday trading range after flat to negative opening today. Follow up moves and valid break out of yesterday actual trading range(5795-5844) should be firstly watched for next very short term moves confirmations.