Nifty-Intra Day Chart (04-Jul-2013):-
Technical Patterns and Formations in today intraday charts
1- Buying between 5787-5810
2- Selling between 5831-5843
3- High volatility in last more than 2 hours
3- Whole day actual trading between 5787-5846
Firstly lower levels consolidations but higher levels good selling and High volatility in last more than 2 hours because Indian Rupee was also highly volatile during that period
USDINR-Intra Day Chart (04-Jul-2013):-
It is clear from both above intraday charts that as soon as Indian Rupee weakened then Nifty slipped sharply and when Indian Rupee strengthened then immediately Nifty moved up also.
As high volatility yesterday and technical positions reverses during such high volatility as well as both lower levels consolidations and higher levels selling therefore Indian markets are not prepared for any side decisive moves and follow up moves with following trading ranges valid break out should be firstly watched in the coming sessions for next trend confirmations.
1- 5787-5846
2- 5762-5893
3- 5762-5969
Immediate resistances are as follows:-
1- 5831-5843
2- 5880-5893
3- 5900-5969
Immediate supports are as follows:-
1- 5787-5810
2- 5762-5781
Following conclusive line was told on 03-07-2013 in Technical Analysis and Market Outlook(04-07-2013) and being repeated:-
Pre-open Outlook(05-07-2013)
Bounce back seen yesterday and trading near higher levels of mentioned sideways broader range will be seen today after gap up opening but strong resistances are between 5900-5969 and complete consolidation is required for sustaining above 5969. Let markets prepare for next decisive trend within broader range then will be updated according to intraday charts formations in the coming sessions.
 |
| Just click on chart for its enlarged view |
1- Buying between 5787-5810
2- Selling between 5831-5843
3- High volatility in last more than 2 hours
3- Whole day actual trading between 5787-5846
Conclusions from intra day chart analysis
Firstly lower levels consolidations but higher levels good selling and High volatility in last more than 2 hours because Indian Rupee was also highly volatile during that period
USDINR-Intra Day Chart (04-Jul-2013):-
 |
| Just click on chart for its enlarged view |
As high volatility yesterday and technical positions reverses during such high volatility as well as both lower levels consolidations and higher levels selling therefore Indian markets are not prepared for any side decisive moves and follow up moves with following trading ranges valid break out should be firstly watched in the coming sessions for next trend confirmations.
1- 5787-5846
2- 5762-5893
3- 5762-5969
Immediate resistances are as follows:-
1- 5831-5843
2- 5880-5893
3- 5900-5969
Immediate supports are as follows:-
1- 5787-5810
2- 5762-5781
Following conclusive line was told on 03-07-2013 in Technical Analysis and Market Outlook(04-07-2013) and being repeated:-
bounce back,Pull Back rally or sideways broader range market between 5762-5969 will be considered after sustaining above 5781.
Pre-open Outlook(05-07-2013)
Bounce back seen yesterday and trading near higher levels of mentioned sideways broader range will be seen today after gap up opening but strong resistances are between 5900-5969 and complete consolidation is required for sustaining above 5969. Let markets prepare for next decisive trend within broader range then will be updated according to intraday charts formations in the coming sessions.