Nifty-Intra Day Chart(08-06-2011):-
Main Features
1- Selling between 5545-5455
3- Last 2 hours consolidation patterns between 5515-4425
Conclusions
Some selling at higher levels but last 2 hours lower levels consolidations also therefore view will not be bearish despite Red closing today. Trading range of today is 5515-5555 and break out of today range will be only first indication of next trend because good supports below today range and strong resistances above today range also.
Decisive trending moves should be expected after break out of 5459-5605.
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1- Selling between 5545-5455
3- Last 2 hours consolidation patterns between 5515-4425
Conclusions
Some selling at higher levels but last 2 hours lower levels consolidations also therefore view will not be bearish despite Red closing today. Trading range of today is 5515-5555 and break out of today range will be only first indication of next trend because good supports below today range and strong resistances above today range also.
Decisive trending moves should be expected after break out of 5459-5605.