Nifty-Intra Day Chart(09-Aug-2011):-
Technical Patterns and Formations in today intra day charts
1- Buying between 4990-5060
2- selling between 5100-5163
3- Whole day trading between 4980-5163
Conclusions
Although some selling at higher levels but good consolidations 4990-5060 also. As Indian markets out performed Asian cues in the beginning of trading and intraday consolidations also seen therefore Bounce back/Pull Back rally possibility turned higher today and also expected tomorrow as well as confirmations will be sustaining above 5163.
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1- Buying between 4990-5060
2- selling between 5100-5163
3- Whole day trading between 4980-5163
Conclusions
Although some selling at higher levels but good consolidations 4990-5060 also. As Indian markets out performed Asian cues in the beginning of trading and intraday consolidations also seen therefore Bounce back/Pull Back rally possibility turned higher today and also expected tomorrow as well as confirmations will be sustaining above 5163.