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Nifty-Micro Analysis of Intra Day Chart For 14-07-2011

Nifty-Intra Day Chart(13-Jul-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in today intraday charts

1- Condolidation between- 5557-5575

Conclusions

Market consolidated whole day therefore following lines were told in Pre-closing Outlook(13-07-2011)

1-intraday patterns are showing consolidation today as well as possibility of sustaining above 5578 is higher also
2- confirmation is must through sustaining above 5578 or forceful up move above 5578 because global markets pressure is high nowadays.

Nifty tested 5500 yesterday due to crashing Global markets but Indian markets consolidated today and Nifty sustaining above 5628 will be next up moves strong indication and it is expected also after today whole day consolidations.

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