Nifty-Intra Day Chart(16-06-2011):-
Main Features
1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Conclusions
Minor support signals seen between 5405-5420 and after that market moved up also but selling developed between 5424-5442 and Nifty slipped below 5400. All the Asian markets closed near lower levels and European markets also slipped after gap down opening therefore sentiment was depressed whole day today and Nifty entered into last support range.
Selling above 5480,today also between 5424-5442 and only minor support signals between 5405-5420 therefore market require complete consolidation for any up move beginning.
Strong support range(5329-5400) below today trading range therefore market require fresh selling for dipping and sustaining below 5329.
Although Nifty slipped and closed below 5400 but minor support signals seen between 5405-5420 today therefore sustaining beyond 5400 will be watched firstly watched tomorrow for next moves confirmations.
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1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Conclusions
Minor support signals seen between 5405-5420 and after that market moved up also but selling developed between 5424-5442 and Nifty slipped below 5400. All the Asian markets closed near lower levels and European markets also slipped after gap down opening therefore sentiment was depressed whole day today and Nifty entered into last support range.
Selling above 5480,today also between 5424-5442 and only minor support signals between 5405-5420 therefore market require complete consolidation for any up move beginning.
Strong support range(5329-5400) below today trading range therefore market require fresh selling for dipping and sustaining below 5329.
Although Nifty slipped and closed below 5400 but minor support signals seen between 5405-5420 today therefore sustaining beyond 5400 will be watched firstly watched tomorrow for next moves confirmations.