Nifty-Intra Day Chart(26-Jul-2011):-
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Last 4 fours mixed patterns between- 5560-5605
Conclusions
Sharp fall after RBI Credit policy and Nifty traded last 4 hours between 5560-5605 with intraday mixed patterns. As Nifty traded most of the time below 5600 and selling signals are also seen therefore more down moves are possible because RBI Credit Policy gave big jolt to fundamentals today.
Nifty sustaining below 5600 will be confirmation of again turning into range bound mode between 5350-5600 and next moves confirmation range is sustaining beyond 5560-5605.