Nifty-Intra Day Chart (02-May-2013):-
Technical Patterns and Formations in today intraday charts
1- Strong up moves.
2- Last more than 4 hours trading between 5993-6017 with intraday charts selling patterns formations
3- Whole day actual trading between 5927-6017
Strong rally immediately after opening but last more 4 hours trading between 5993-6017 with intraday charts selling patterns formations therefore finally slipping below 5993 is expected. RBI Credit policy tomorrow and volatility can not be ruled out before or after its announcements and expected that Short Term Correction will be seen tomorrow despite whatsoever rates cuts by RBI.
Initially positive zone trading and highs above today highest(6019) can not be ruled out but correction is expected at this moment and next strong supports(5863-5890) should be kept in mind.
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1- Strong up moves.
2- Last more than 4 hours trading between 5993-6017 with intraday charts selling patterns formations
3- Whole day actual trading between 5927-6017
Conclusions from intra day chart analysis
Strong rally immediately after opening but last more 4 hours trading between 5993-6017 with intraday charts selling patterns formations therefore finally slipping below 5993 is expected. RBI Credit policy tomorrow and volatility can not be ruled out before or after its announcements and expected that Short Term Correction will be seen tomorrow despite whatsoever rates cuts by RBI.
Initially positive zone trading and highs above today highest(6019) can not be ruled out but correction is expected at this moment and next strong supports(5863-5890) should be kept in mind.