Nifty- Intra Day Chart(23-05-2011):-
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1- Selling between 5418-5436
2- Last 3 hours mixed patterns between 5375-5400
Conclusions
All trends are down and all the technical indicators are suggesting Bearish markets. Last confirmation point is sustaining below 5444. Nifty traded whole day below it and also moved bolow strong support(5402).
As today down moves were the impact of crashing global markets therefore clear selling patterns are required below 5402 for Bearish markets confirmations. Nifty traded last 3 hours between 5375-5400 but patterns are mixed and if Nifty sustains below 5375 tomorrow then deep down will be seen.