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Nifty-Micro Analysis of Intra Day Chart(26-04-2011)


Just click on chart for its enlarged view

Firstly 2 hours intra day consolidation between 5792-5812 and then break out and then up move with regular 4 minor intra day consolidation and up move with intact rising trend line and closing. 

Whole day intra day chart is showing sharp rally after good support within previous support(5785-5805). Strength of today support was yold in following words in Mid-session Outlook-2:-

"Nifty moved above 5812 and also trading above for the last half hour. It is positive and if sustains above 5812 today then will be first strong indication of today started correction completion"

"Today intra day chart is giving confirmation to today started correction completion"