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Nifty-Micro Analysis of Intra Day Chart(02-05-2011):


Just click on chart for its enlarged view

Conclusions are as follows

1- Last 3 hours consolidation between 5690-5710
2- Distribution between 5725-6740

As base formation and support between 5725-5740 and some selling at higher levels also today therefore firstly trading between 5690-5750 will be seen. Base formation at lower level today therefore firstly very short term up moves expected tomorrow. Let follow up buying/selling develop tomorrow then final conclusions will be drawn from 5690-5750 break out.