Tuesday, September 1, 2009
Nifty Intraday Technical Analysis for 1st Sep 09
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Nifty Intraday Chart - 5 mins:
Nifty opened a Gap up of 25 points which was above the Neckline of the Inverted Head and Shoulders and it started moving up. As I mentioned in the Pre-Market Analysis target for the Inverted Head and Shoulders(Right shoulder is not fully developed) was at 4730 and it reached the target. After reaching the target, it consolidated with low volumes and also formed a double top with volume confirmation. Nifty gave a break down from the sideways range giving good reversal signal at higher levels, it reached the breakdown target immediately but by pure luck it managed to slide down so fast giving a profit of 80 points in this second trade.
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1 comments:
Thanks for your detailed reply...
Noted the points. I am learning a lot and benifitting a bit(?) cos of my capacity level:)) from your blog.
Once again thank u very much for your updation @ right time and my learning/earning credit goes to Mr. Ilangoji who told me about ur blog.
Regards
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