Nifty-Intra Day Chart(24-Aug-2011):-
Technical Patterns and Formations in today intraday charts
1- Selling between 4952-4960
2- Selling between 4898-4925
3- Whole day trading between 4876-4961
Conclusions
Finally whole day selling proved and it is strong indication of Pull Back rally failure. More down moves will be seen tomorrow. Cofirm selling between 4898-4960 and it is immediate resistance now. Until Nifty will not sustain above 4960 till then any upmove will not be considered.
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1- Selling between 4952-4960
2- Selling between 4898-4925
3- Whole day trading between 4876-4961
Conclusions
Finally whole day selling proved and it is strong indication of Pull Back rally failure. More down moves will be seen tomorrow. Cofirm selling between 4898-4960 and it is immediate resistance now. Until Nifty will not sustain above 4960 till then any upmove will not be considered.