Nifty-Intra Day Chart(16-Aug-2011):-
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1Selling between 5080-5120
2- Whole day trading between 5016-5120
Conclusions
Good selling at higher levels and Nifty slipped below last Friday lows as well as closed below it also. Minor consolidation seen between 5020-5060 on 09-08-2011 and Nifty traded and closed within this range today,breaking down of this range will mean again sharp fall.
As good selling today therefore more slipping possibility can not be ruled out in the coming sessions.